Atb Cap Markets Weighs in on Precision Drilling Co.’s Q1 2024 Earnings (NYSE:PDS)

Precision Drilling Co. (NYSE:PDSFree Report) (TSE:PD) – Equities research analysts at Atb Cap Markets decreased their Q1 2024 EPS estimates for shares of Precision Drilling in a research note issued on Tuesday, February 6th. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will post earnings per share of $1.95 for the quarter, down from their prior forecast of $2.74. The consensus estimate for Precision Drilling’s current full-year earnings is $10.05 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q3 2024 earnings at $2.15 EPS, Q4 2024 earnings at $2.72 EPS, FY2024 earnings at $6.05 EPS, Q1 2025 earnings at $2.83 EPS, Q2 2025 earnings at $1.10 EPS, Q3 2025 earnings at $3.00 EPS, FY2025 earnings at $9.19 EPS and FY2026 earnings at $10.62 EPS.

PDS has been the subject of several other reports. StockNews.com downgraded Precision Drilling from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. National Bank Financial cut Precision Drilling from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, November 21st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $121.71.

Check Out Our Latest Report on Precision Drilling

Precision Drilling Trading Up 3.7 %

Precision Drilling stock opened at $63.94 on Friday. The firm has a 50-day moving average price of $55.84 and a two-hundred day moving average price of $60.70. Precision Drilling has a 52-week low of $41.56 and a 52-week high of $73.82. The firm has a market capitalization of $916.90 million, a price-to-earnings ratio of 4.69 and a beta of 2.15. The company has a quick ratio of 1.48, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Precision Drilling by 9.0% during the 1st quarter. JPMorgan Chase & Co. now owns 52,619 shares of the oil and gas company’s stock valued at $3,890,000 after purchasing an additional 4,346 shares in the last quarter. BlackRock Inc. boosted its holdings in Precision Drilling by 18.4% during the first quarter. BlackRock Inc. now owns 7,081 shares of the oil and gas company’s stock worth $523,000 after buying an additional 1,101 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in Precision Drilling in the first quarter worth approximately $27,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Precision Drilling in the first quarter valued at $3,499,000. Finally, Cibc World Market Inc. lifted its position in shares of Precision Drilling by 13.5% during the 1st quarter. Cibc World Market Inc. now owns 7,704 shares of the oil and gas company’s stock valued at $569,000 after acquiring an additional 917 shares during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

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.

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

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