Precision Drilling Co. (NYSE:PDS) Expected to Post Earnings of -$2.03 Per Share

Brokerages predict that Precision Drilling Co. (NYSE:PDSGet Rating) (TSE:PD) will report ($2.03) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Precision Drilling’s earnings. The highest EPS estimate is ($1.76) and the lowest is ($2.39). Precision Drilling posted earnings per share of ($4.65) in the same quarter last year, which would suggest a positive year over year growth rate of 56.3%. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Precision Drilling will report full-year earnings of ($2.40) per share for the current year, with EPS estimates ranging from ($4.24) to $0.44. For the next fiscal year, analysts anticipate that the company will post earnings of $7.28 per share, with EPS estimates ranging from $4.46 to $8.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Precision Drilling.

Precision Drilling (NYSE:PDSGet Rating) (TSE:PD) last issued its quarterly earnings results on Thursday, April 28th. The oil and gas company reported ($2.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($1.77). Precision Drilling had a negative return on equity of 14.98% and a negative net margin of 16.91%. The business had revenue of $351.00 million for the quarter, compared to analyst estimates of $329.17 million. During the same quarter in the previous year, the business posted ($2.13) earnings per share. The business’s revenue was up 48.4% on a year-over-year basis.

A number of brokerages have weighed in on PDS. BMO Capital Markets increased their price target on Precision Drilling from C$65.00 to C$75.00 in a report on Friday, February 11th. TD Securities increased their price target on Precision Drilling from C$125.00 to C$130.00 in a report on Friday, April 29th. Piper Sandler raised their target price on Precision Drilling from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, June 1st. Royal Bank of Canada raised their target price on Precision Drilling from C$135.00 to C$147.00 in a research note on Friday, April 29th. Finally, StockNews.com initiated coverage on Precision Drilling in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $99.00.

Hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its stake in shares of Precision Drilling by 88.7% during the 3rd quarter. US Bancorp DE now owns 619 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 291 shares during the period. Great West Life Assurance Co. Can bought a new position in Precision Drilling in the 1st quarter worth about $27,000. Marshall Wace LLP bought a new position in Precision Drilling in the 1st quarter worth about $36,000. Verdad Advisers LP bought a new position in Precision Drilling in the 4th quarter worth about $37,000. Finally, Ahrens Investment Partners LLC bought a new position in Precision Drilling in the 4th quarter worth about $39,000. Institutional investors own 43.04% of the company’s stock.

Precision Drilling stock traded down $1.91 during trading hours on Thursday, reaching $83.29. 3,221 shares of the company’s stock were exchanged, compared to its average volume of 61,942. The company has a quick ratio of 1.60, a current ratio of 1.71 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $74.36 and its 200 day simple moving average is $56.27. Precision Drilling has a twelve month low of $28.00 and a twelve month high of $87.19. The firm has a market capitalization of $1.13 billion, a PE ratio of -7.49 and a beta of 2.50.

Precision Drilling Company Profile (Get Rating)

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services.

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Earnings History and Estimates for Precision Drilling (NYSE:PDS)

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