Precision Drilling Co. (TSE:PD) to Post FY2022 Earnings of $1.46 Per Share, Raymond James Forecasts

Precision Drilling Co. (TSE:PDGet Rating) (NYSE:PDS) – Analysts at Raymond James upped their FY2022 earnings per share estimates for shares of Precision Drilling in a research report issued on Thursday, July 28th. Raymond James analyst A. Bradford now forecasts that the company will earn $1.46 per share for the year, up from their prior forecast of $0.26. Raymond James has a “Strong-Buy” rating and a $130.00 price target on the stock. The consensus estimate for Precision Drilling’s current full-year earnings is $7.65 per share. Raymond James also issued estimates for Precision Drilling’s FY2023 earnings at $12.28 EPS.

PD has been the topic of several other reports. Royal Bank of Canada raised their price target on Precision Drilling from C$147.00 to C$156.00 in a research report on Thursday, July 7th. ATB Capital raised their price objective on Precision Drilling from C$130.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Friday, April 29th. Stifel Nicolaus raised their price objective on Precision Drilling from C$145.00 to C$150.00 in a research note on Thursday. BMO Capital Markets raised their price objective on Precision Drilling from C$130.00 to C$140.00 in a research note on Thursday. Finally, CIBC raised their price objective on Precision Drilling from C$82.50 to C$115.00 in a research note on Thursday, April 14th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$107.07.

Precision Drilling Stock Up 1.8 %

TSE:PD opened at C$87.28 on Monday. Precision Drilling has a 12-month low of C$35.82 and a 12-month high of C$109.29. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 101.68. The firm has a market capitalization of C$1.19 billion and a P/E ratio of -6.29. The stock’s fifty day simple moving average is C$85.96 and its 200-day simple moving average is C$81.19.

Precision Drilling (TSE:PDGet Rating) (NYSE:PDS) last announced its quarterly earnings data on Thursday, April 28th. The company reported C($3.25) EPS for the quarter, missing analysts’ consensus estimates of C($1.01) by C($2.24). The business had revenue of C$351.34 million during the quarter, compared to analysts’ expectations of C$328.30 million.

Insider Buying and Selling

In related news, Senior Officer Darren Ruhr sold 1,176 shares of Precision Drilling stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of C$106.72, for a total transaction of C$125,508.13. Following the completion of the transaction, the insider now owns 18,567 shares in the company, valued at C$1,981,555.65.

About Precision Drilling

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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.

See Also

Earnings History and Estimates for Precision Drilling (TSE:PD)

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