Analysts forecast that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will announce $120.00 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Precision Drilling’s earnings, with the lowest sales estimate coming in at $111.74 million and the highest estimate coming in at $128.09 million. Precision Drilling posted sales of $284.47 million in the same quarter last year, which suggests a negative year over year growth rate of 57.8%. The firm is scheduled to announce its next earnings results on Thursday, October 22nd.
According to Zacks, analysts expect that Precision Drilling will report full year sales of $688.80 million for the current fiscal year, with estimates ranging from $671.92 million to $718.57 million. For the next financial year, analysts expect that the business will report sales of $632.15 million, with estimates ranging from $559.50 million to $669.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Precision Drilling.
Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Thursday, July 23rd. The oil and gas company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Precision Drilling had a negative return on equity of 2.26% and a negative net margin of 4.33%. The company had revenue of $136.89 million during the quarter, compared to analyst estimates of $132.14 million.
A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Precision Drilling from $1.00 to $0.75 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Zacks Investment Research lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Raymond James reiterated a “hold” rating and set a $0.90 target price on shares of Precision Drilling in a report on Friday, July 24th. Piper Sandler increased their target price 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. Finally, Canaccord Genuity reiterated a “hold” rating and set a $0.90 target price on shares of Precision Drilling in a report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Precision Drilling currently has an average rating of “Hold” and an average target price of $1.13.
Shares of PDS stock traded down $0.01 during trading hours on Thursday, hitting $0.67. The company had a trading volume of 241,183 shares, compared to its average volume of 438,216. The company’s fifty day moving average is $0.70 and its 200 day moving average is $0.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.46 and a quick ratio of 2.27. Precision Drilling has a fifty-two week low of $0.27 and a fifty-two week high of $1.64. The stock has a market capitalization of $185.23 million, a PE ratio of -4.50 and a beta of 3.24.
Several large investors have recently made changes to their positions in the business. Jane Street Group LLC grew its position in shares of Precision Drilling by 86.4% in the 2nd quarter. Jane Street Group LLC now owns 33,954 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 15,742 shares during the last quarter. UBS Group AG grew its position in shares of 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 last quarter. Marshall Wace LLP purchased a new position in shares of Precision Drilling in the 1st quarter valued at $36,000. DORCHESTER WEALTH MANAGEMENT Co grew its position in shares of Precision Drilling by 323.1% in the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,950 shares of the oil and gas company’s stock valued at $99,000 after buying an additional 100,000 shares during the last quarter. Finally, Guardian Capital Advisors LP grew its position in shares of Precision Drilling by 7.0% in the 1st quarter. Guardian Capital Advisors LP now owns 619,183 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 40,370 shares during the last quarter. 28.18% of the stock is currently owned by institutional investors.
Precision Drilling Company Profile
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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