FY2017 EPS Estimates for Precision Drilling Co. Increased by Jefferies Group (PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share estimates for shares of Precision Drilling in a report issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now anticipates that the company will post earnings of ($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.

A number of other research analysts have also weighed in on PD. Canaccord Genuity cut their price objective on Precision Drilling from C$4.75 to C$4.25 in a report on Wednesday, August 2nd. BMO Capital Markets cut their price objective on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Citigroup Inc. cut their price objective on Precision Drilling from C$4.25 to C$4.00 in a report on Friday, November 17th. Raymond James Financial, Inc. dropped their target price on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating on the stock in a report on Tuesday, August 22nd. Finally, Royal Bank Of Canada dropped their target price on Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a report on Friday, October 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Precision Drilling currently has an average rating of “Hold” and a consensus price target of C$6.23.

Shares of Precision Drilling (TSE:PD) traded down C$0.01 during mid-day trading on Friday, hitting C$3.44. The stock had a trading volume of 2,031,100 shares, compared to its average volume of 1,928,210. Precision Drilling has a fifty-two week low of C$2.89 and a fifty-two week high of C$8.21.

In related news, Director Kevin A. Neveu bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were purchased at an average cost of C$3.13 per share, with a total value of C$31,300.00.

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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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