Atb Cap Markets Equities Analysts Cut Earnings Estimates for Precision Drilling Co. (TSE:PD)

Precision Drilling Co. (TSE:PDFree Report) (NYSE:PDS) – Research analysts at Atb Cap Markets lowered their Q1 2024 EPS estimates for shares of Precision Drilling in a report released on Tuesday, February 6th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $2.63 for the quarter, down from their prior forecast of $3.65. The consensus estimate for Precision Drilling’s current full-year earnings is $8.79 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q3 2024 earnings at $2.90 EPS, Q4 2024 earnings at $3.68 EPS, FY2024 earnings at $8.17 EPS, Q1 2025 earnings at $3.82 EPS, Q2 2025 earnings at $1.49 EPS, Q3 2025 earnings at $4.05 EPS, FY2025 earnings at $12.42 EPS and FY2026 earnings at $14.16 EPS.

Several other research firms also recently commented on PD. Stifel Nicolaus reduced their price target on shares of Precision Drilling from C$120.00 to C$115.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler Companies decreased their target price on shares of Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating for the company in a research note on Monday, January 8th. BMO Capital Markets raised their price target on Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada decreased their price objective on Precision Drilling from C$125.00 to C$122.00 in a research report on Friday, January 12th. Finally, Raymond James lowered their target price on Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Precision Drilling has a consensus rating of “Buy” and an average target price of C$121.08.

Read Our Latest Stock Report on PD

Precision Drilling Price Performance

PD stock opened at C$86.19 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97. The company has a market capitalization of C$1.24 billion, a P/E ratio of 4.41, a PEG ratio of -3.24 and a beta of 2.92. The business has a 50 day simple moving average of C$74.97 and a 200-day simple moving average of C$82.13. Precision Drilling has a twelve month low of C$56.42 and a twelve month high of C$100.23.

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.

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

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