Brokerages Anticipate Precision Drilling Co. (NYSE:PDS) to Announce -$1.24 EPS

Equities analysts expect Precision Drilling Co. (NYSE:PDS) (TSE:PD) to announce ($1.24) earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for Precision Drilling’s earnings, with the highest EPS estimate coming in at ($0.79) and the lowest estimate coming in at ($1.68). Precision Drilling reported earnings per share of ($1.60) in the same quarter last year, which indicates a positive year over year growth rate of 22.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 28th.

According to Zacks, analysts expect that Precision Drilling will report full-year earnings of ($8.34) per share for the current financial year, with EPS estimates ranging from ($9.44) to ($7.30). For the next fiscal year, analysts expect that the company will report earnings of ($1.50) per share, with EPS estimates ranging from ($2.83) to $0.91. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Thursday, July 22nd. The oil and gas company reported ($5.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.82) by ($1.89). Precision Drilling had a negative net margin of 22.33% and a negative return on equity of 13.17%. The firm had revenue of $201.36 million during the quarter, compared to analyst estimates of $202.33 million. During the same quarter in the previous year, the business posted ($3.56) earnings per share. Precision Drilling’s revenue for the quarter was up 6.1% compared to the same quarter last year.

A number of analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Precision Drilling from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. TD Securities lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, June 7th. Evercore ISI raised shares of Precision Drilling from an “in-line” rating to an “outperform” rating in a research report on Wednesday, June 23rd. CIBC downgraded shares of Precision Drilling from a “sector outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research note on Wednesday, July 14th. Finally, Tudor Pickering restated a “buy” rating on shares of Precision Drilling in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $45.22.

NYSE PDS traded up $2.69 during trading on Monday, reaching $39.20. The company’s stock had a trading volume of 3,660 shares, compared to its average volume of 83,922. The firm has a market cap of $521.52 million, a price-to-earnings ratio of -3.73 and a beta of 3.18. The business’s fifty day moving average price is $32.79 and its 200-day moving average price is $31.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.64. Precision Drilling has a twelve month low of $11.62 and a twelve month high of $44.52.

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its stake in Precision Drilling by 1,144.0% during the 2nd quarter. Deutsche Bank AG now owns 3,732 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 3,432 shares during the period. BlackRock Inc. bought a new position in shares of Precision Drilling during the 1st quarter valued at about $90,000. Marshall Wace LLP acquired a new position in shares of Precision Drilling in the second quarter worth about $271,000. Osmium Partners LLC acquired a new position in shares of Precision Drilling in the second quarter worth about $292,000. Finally, Toronto Dominion Bank lifted its position in shares of Precision Drilling by 10.6% in the first quarter. Toronto Dominion Bank now owns 7,019 shares of the oil and gas company’s stock worth $152,000 after purchasing an additional 674 shares in the last quarter. 39.88% of the stock is currently owned by institutional investors and hedge funds.

About Precision Drilling

Precision Drilling Corp. engages in the provision od onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment.

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Earnings History and Estimates for Precision Drilling (NYSE:PDS)

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