Analysts Anticipate Precision Drilling Co. (NYSE:PDS) Will Post Earnings of -$2.10 Per Share


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Equities analysts expect Precision Drilling Co. (NYSE:PDS) (TSE:PD) to announce ($2.10) earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for Precision Drilling’s earnings. The highest EPS estimate is ($1.98) and the lowest is ($2.16). Precision Drilling reported earnings per share of ($0.20) in the same quarter last year, which would indicate a negative year-over-year growth rate of 950%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, April 29th.

According to Zacks, analysts expect that Precision Drilling will report full-year earnings of ($8.52) per share for the current fiscal year, with EPS estimates ranging from ($9.99) to ($6.84). For the next fiscal year, analysts anticipate that the firm will post earnings of ($3.93) per share, with EPS estimates ranging from ($6.35) to ($1.98). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Tuesday, February 9th. The oil and gas company reported ($2.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.28) by ($0.46). The firm had revenue of $201.60 million for the quarter, compared to the consensus estimate of $195.30 million. Precision Drilling had a negative net margin of 7.43% and a negative return on equity of 3.97%. The firm’s quarterly revenue was down 45.9% compared to the same quarter last year.

A number of equities analysts have recently issued reports on PDS shares. Morgan Stanley increased their price objective on shares of Precision Drilling from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 31st. BMO Capital Markets increased their price objective on shares of Precision Drilling from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating on shares of Precision Drilling in a research report on Tuesday, December 15th. Smith Barney Citigroup reissued a “neutral” rating on shares of Precision Drilling in a research report on Tuesday, December 15th. Finally, Raymond James raised shares of Precision Drilling from a “market perform” rating to a “strong-buy” rating in a research report on Tuesday, January 12th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $26.25.

Shares of PDS stock traded down $0.28 on Friday, reaching $24.13. 801 shares of the company were exchanged, compared to its average volume of 115,111. The company has a market cap of $321.03 million, a price-to-earnings ratio of -5.55 and a beta of 3.20. The company has a 50-day moving average of $23.43 and a 200-day moving average of $19.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.36 and a quick ratio of 2.18. Precision Drilling has a one year low of $5.70 and a one year high of $28.82.

A number of large investors have recently bought and sold shares of the business. Schroder Investment Management Group purchased a new stake in Precision Drilling in the 4th quarter valued at about $25,000. Paloma Partners Management Co purchased a new stake in Precision Drilling in the 4th quarter valued at about $176,000. Virtu Financial LLC purchased a new stake in Precision Drilling in the 4th quarter valued at about $224,000. Marshall Wace LLP purchased a new stake in Precision Drilling in the 1st quarter valued at about $36,000. Finally, Cubist Systematic Strategies LLC increased its stake in Precision Drilling by 23.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 127,180 shares of the oil and gas company’s stock valued at $79,000 after buying an additional 23,851 shares during the last quarter.

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

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