Jefferies Group Equities Analysts Lift Earnings Estimates for Precision Drilling Co. (PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Research analysts at Jefferies Group lifted their FY2017 earnings estimates for shares of Precision Drilling in a research report issued on Wednesday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now anticipates that the company will earn ($0.38) per share for the year, up from their previous estimate of ($0.49). Jefferies Group also issued estimates for Precision Drilling’s Q4 2017 earnings at ($0.09) EPS, Q1 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.07) EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.30) EPS and FY2019 earnings at $0.35 EPS.

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Other analysts also recently issued reports about the company. Canaccord Genuity lowered their price target on Precision Drilling from C$4.75 to C$4.25 in a research report on Wednesday, August 2nd. Citigroup Inc. decreased their target price on Precision Drilling from C$4.25 to C$4.00 in a research report on Friday. BMO Capital Markets cut their price target on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 1st. CIBC cut their price target on Precision Drilling from C$8.00 to C$7.00 in a research note on Friday, October 20th. Finally, Royal Bank Of Canada cut their price target on Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a research note on Friday, October 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Precision Drilling presently has a consensus rating of “Hold” and a consensus price target of C$6.23.

Shares of Precision Drilling (TSE PD) opened at C$3.47 on Friday. Precision Drilling has a 52-week low of C$2.89 and a 52-week high of C$8.21.

In other Precision Drilling news, Director Kevin A. Neveu purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average price of C$3.13 per share, for a total transaction of C$31,300.00.

About Precision Drilling

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through 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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