FY2022 Earnings Estimate for Precision Drilling Co. Issued By Stifel Firstegy (NYSE:PDS)

Precision Drilling Co. (NYSE:PDS – Get Rating) (TSE:PD) – Investment analysts at Stifel Firstegy cut their FY2022 earnings estimates for Precision Drilling in a report issued on Tuesday, January 17th. Stifel Firstegy analyst C. Pereira now expects that the oil and gas company will post earnings of ($0.09) per share for the year, down from their previous forecast of $0.20. The consensus estimate for Precision Drilling’s current full-year earnings is ($0.62) per share. Stifel Firstegy also issued estimates for Precision Drilling’s FY2024 earnings at $16.81 EPS.

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) last released its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.52. The firm had revenue of $329.14 million for the quarter, compared to analyst estimates of $308.44 million. Precision Drilling had a negative return on equity of 5.50% and a negative net margin of 4.75%.

PDS has been the topic of a number of other reports. Raymond James reduced their price objective on shares of Precision Drilling from C$130.00 to C$115.00 in a research note on Wednesday, September 28th. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a report on Sunday, October 30th. TheStreet raised Precision Drilling from a “d+” rating to a “c-” rating in a research note on Friday, October 28th. Stifel Nicolaus raised their target price on Precision Drilling from C$140.00 to C$165.00 in a research note on Friday, October 28th. Finally, CIBC raised Precision Drilling from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Precision Drilling currently has an average rating of “Buy” and an average price target of $130.00.

Precision Drilling Stock Performance

Shares of PDS stock opened at $85.50 on Friday. The stock has a market capitalization of $1.16 billion, a PE ratio of -21.06 and a beta of 2.44. The business’s 50 day simple moving average is $77.70 and its 200 day simple moving average is $67.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.36. Precision Drilling has a one year low of $37.23 and a one year high of $87.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its holdings in shares of Precision Drilling by 108.5% during the third quarter. Quadrature Capital Ltd now owns 51,300 shares of the oil and gas company’s stock valued at $2,618,000 after acquiring an additional 26,700 shares in the last quarter. Encompass Capital Advisors LLC increased its stake in Precision Drilling by 0.3% during the 3rd quarter. Encompass Capital Advisors LLC now owns 603,636 shares of the oil and gas company’s stock valued at $30,559,000 after purchasing an additional 1,680 shares in the last quarter. BlackRock Inc. raised its holdings in Precision Drilling by 78.1% during the third quarter. BlackRock Inc. now owns 10,778 shares of the oil and gas company’s stock worth $546,000 after buying an additional 4,725 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Precision Drilling in the third quarter valued at $307,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Precision Drilling during the third quarter valued at about $1,281,000. Institutional investors own 45.22% of the company’s stock.

Precision Drilling Company Profile

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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.