Equities Analysts Set Expectations for Precision Drilling Corp’s Q3 2019 Earnings (PD)

Precision Drilling Corp (TSE:PD) (NYSE:PDS) – Equities researchers at Piper Jaffray Companies dropped their Q3 2019 EPS estimates for shares of Precision Drilling in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst J. Daniel now forecasts that the company will earn $0.00 per share for the quarter, down from their prior forecast of $0.01.

Several other research firms also recently commented on PD. Raymond James increased their target price on shares of Precision Drilling from C$5.75 to C$7.25 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 10th. Canaccord Genuity upped their price target on shares of Precision Drilling from C$5.00 to C$5.25 in a report on Tuesday, July 10th. TD Securities cut shares of Precision Drilling from an “action list buy” rating to a “buy” rating and upped their price target for the company from C$7.00 to C$7.50 in a report on Wednesday, September 5th. Cormark upped their price target on shares of Precision Drilling from C$5.50 to C$6.00 in a report on Friday, July 27th. Finally, GMP Securities upped their price target on shares of Precision Drilling from C$7.00 to C$7.50 in a report on Tuesday, October 9th.

Precision Drilling stock opened at C$3.18 on Thursday. Precision Drilling has a one year low of C$3.03 and a one year high of C$5.33.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Thursday, October 25th. The company reported C($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.08) by C($0.02). The business had revenue of C$382.46 million for the quarter, compared to analyst estimates of C$395.40 million. Precision Drilling had a negative return on equity of 10.28% and a negative net margin of 13.54%.

In other news, Director Wane Jacob Stickland purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average cost of C$3.17 per share, for a total transaction of C$31,700.00. Insiders have acquired 32,000 shares of company stock valued at $88,100 over the last 90 days.

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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Earnings History and Estimates for Precision Drilling (TSE:PD)

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