Equities research analysts expect Precision Drilling Corp (NYSE:PDS) (TSE:PD) to report ($0.15) earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Precision Drilling’s earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.18). Precision Drilling reported earnings per share of ($0.01) during the same quarter last year, which suggests a negative year over year growth rate of 1,400%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 22nd.
According to Zacks, analysts expect that Precision Drilling will report full year earnings of ($0.42) per share for the current financial year, with EPS estimates ranging from ($0.50) to ($0.38). For the next year, analysts expect that the company will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.63) to ($0.33). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Precision Drilling.
Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Thursday, July 23rd. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). The firm had revenue of $136.89 million for the quarter, compared to analyst estimates of $132.14 million. Precision Drilling had a negative return on equity of 2.26% and a negative net margin of 4.33%.
A number of analysts have recently issued reports on PDS shares. Royal Bank of Canada raised their price target on shares of Precision Drilling from $1.25 to $1.50 and gave the stock an “outperform” rating in a report on Friday, July 24th. Canaccord Genuity restated a “hold” rating and set a $0.90 price target on shares of Precision Drilling in a report on Wednesday, July 22nd. Piper Sandler raised their price target on shares of Precision Drilling from $0.30 to $0.60 and gave the stock a “neutral” rating in a report on Thursday, May 28th. BMO Capital Markets raised their price target on shares of Precision Drilling from $1.00 to $1.25 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Finally, National Bank Financial cut shares of Precision Drilling from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Sunday, July 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Precision Drilling currently has a consensus rating of “Hold” and a consensus price target of $1.13.
A number of hedge funds have recently modified their holdings of PDS. Marshall Wace LLP purchased a new position in Precision Drilling in the 1st quarter valued at approximately $36,000. UBS Group AG boosted its position in Precision Drilling by 32.6% in the 1st quarter. UBS Group AG now owns 97,820 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 24,050 shares during the period. Acadian Asset Management LLC boosted its position in Precision Drilling by 109.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,408,065 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 736,815 shares during the period. Two Sigma Advisers LP boosted its position in Precision Drilling by 183.2% in the 1st quarter. Two Sigma Advisers LP now owns 1,728,080 shares of the oil and gas company’s stock valued at $542,000 after buying an additional 1,117,900 shares during the period. Finally, Two Sigma Investments LP boosted its position in Precision Drilling by 70.0% in the 1st quarter. Two Sigma Investments LP now owns 1,498,227 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 617,037 shares during the period. 28.18% of the stock is owned by institutional investors.
Shares of NYSE PDS traded down $0.01 during midday trading on Tuesday, reaching $0.67. 241,183 shares of the stock were exchanged, compared to its average volume of 438,216. The company has a 50 day simple moving average of $0.70 and a 200 day simple moving average of $0.66. The stock has a market capitalization of $185.23 million, a P/E ratio of -4.50 and a beta of 3.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.27 and a current ratio of 2.46. Precision Drilling has a twelve month low of $0.27 and a twelve month high of $1.64.
About Precision Drilling
Precision Drilling Corporation, an oilfield services company, 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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