Wall Street analysts predict that Precision Drilling (NYSE:PDS) (TSE:PD) will announce ($0.04) earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have provided estimates for Precision Drilling’s earnings, with estimates ranging from ($0.06) to ($0.02). Precision Drilling reported earnings of ($0.06) per share in the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, April 26th.
On average, analysts expect that Precision Drilling will report full year earnings of ($0.24) per share for the current financial year, with EPS estimates ranging from ($0.32) to ($0.14). For the next financial year, analysts expect that the business will report earnings of $0.02 per share, with EPS estimates ranging from ($0.20) to $0.17. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Precision Drilling.
Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $347.19 million during the quarter, compared to analysts’ expectations of $333.97 million. Precision Drilling had a negative return on equity of 5.66% and a negative net margin of 10.29%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS.
A number of equities analysts have recently issued reports on the company. Piper Jaffray set a $4.00 target price on Precision Drilling and gave the stock a “buy” rating in a research note on Thursday. Credit Suisse Group reissued a “neutral” rating and set a $3.40 target price (up from $3.00) on shares of Precision Drilling in a research note on Tuesday, February 27th. ValuEngine downgraded Precision Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Precision Drilling has an average rating of “Hold” and an average price target of $4.36.
Shares of PDS stock traded down $0.03 during trading hours on Friday, reaching $2.79. 1,615,799 shares of the company’s stock were exchanged, compared to its average volume of 1,708,460. The company has a market cap of $826.93, a price-to-earnings ratio of -9.96 and a beta of 1.89. Precision Drilling has a 1 year low of $2.26 and a 1 year high of $5.09. The company has a current ratio of 2.11, a quick ratio of 1.99 and a debt-to-equity ratio of 0.96.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Letko Brosseau & Associates Inc. increased its stake in Precision Drilling by 5.1% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 14,120,425 shares of the oil and gas company’s stock valued at $42,938,000 after purchasing an additional 680,600 shares in the last quarter. Mackenzie Financial Corp increased its stake in Precision Drilling by 12.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,939,377 shares of the oil and gas company’s stock valued at $30,017,000 after purchasing an additional 1,113,700 shares in the last quarter. Mountain Lake Investment Management LLC increased its stake in Precision Drilling by 747.5% in the 4th quarter. Mountain Lake Investment Management LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $7,550,000 after purchasing an additional 2,205,000 shares in the last quarter. AGF Investments Inc. increased its stake in Precision Drilling by 17.2% in the 4th quarter. AGF Investments Inc. now owns 2,193,691 shares of the oil and gas company’s stock valued at $6,649,000 after purchasing an additional 322,400 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Precision Drilling by 192.1% during the fourth quarter. Schroder Investment Management Group now owns 1,990,500 shares of the oil and gas company’s stock worth $7,584,000 after buying an additional 1,309,100 shares in the last quarter. 45.77% of the stock is owned by hedge funds and other institutional investors.
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Precision Drilling Company Profile
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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