Precision Drilling Co. (NYSE:PDS) Forecasted to Earn Q4 2024 Earnings of $2.61 Per Share

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Analysts at Atb Cap Markets cut their Q4 2024 earnings estimates for shares of Precision Drilling in a note issued to investors on Thursday, April 25th. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will post earnings of $2.61 per share for the quarter, down from their previous forecast of $2.62. The consensus estimate for Precision Drilling’s current full-year earnings is $6.38 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q1 2025 earnings at $2.95 EPS, Q4 2025 earnings at $3.39 EPS, FY2025 earnings at $9.68 EPS and Q1 2026 earnings at $3.45 EPS.

PDS has been the topic of a number of other research reports. Piper Sandler cut their price target on Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. StockNews.com lowered Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Precision Drilling currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.17.

Precision Drilling Stock Up 1.5 %

Shares of NYSE:PDS opened at $73.38 on Monday. The company has a 50 day moving average of $66.44 and a 200-day moving average of $60.71. Precision Drilling has a one year low of $41.56 and a one year high of $77.21. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 6.45 and a beta of 2.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.12). The firm had revenue of $391.51 million during the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%.

Hedge Funds Weigh In On Precision Drilling

Several institutional investors have recently modified their holdings of PDS. Signaturefd LLC lifted its position in Precision Drilling by 41.3% in the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 269 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Precision Drilling in the 4th quarter valued at approximately $88,000. Barometer Capital Management Inc. acquired a new position in Precision Drilling during the 3rd quarter worth approximately $148,000. Quantbot Technologies LP acquired a new stake in shares of Precision Drilling in the third quarter valued at approximately $243,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Precision Drilling by 41.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 1,084 shares in the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

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 through Contract Drilling Services and Completion and Production Services segments.