Wall Street analysts expect Precision Drilling Corporation (NYSE:PDS) (TSE:PD) to report earnings per share (EPS) of ($0.15) for the current quarter, Zacks reports. Four analysts have issued estimates for Precision Drilling Corporation’s earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.12). Precision Drilling Corporation also posted earnings per share of ($0.15) during the same quarter last year. The business is scheduled to issue its next earnings results on Thursday, July 20th.
According to Zacks, analysts expect that Precision Drilling Corporation will report full-year earnings of ($0.35) per share for the current fiscal year, with EPS estimates ranging from ($0.56) to ($0.24). For the next financial year, analysts forecast that the company will post earnings of $0.04 per share, with EPS estimates ranging from ($0.09) to $0.18. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Precision Drilling Corporation.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its earnings results on Monday, April 24th. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. Precision Drilling Corporation had a negative net margin of 16.02% and a negative return on equity of 8.10%. The business had revenue of $346.80 million for the quarter, compared to analyst estimates of $345.06 million. During the same quarter last year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year.
Several analysts have weighed in on the company. Raymond James Financial, Inc. raised Precision Drilling Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 26th. Citigroup Inc. reaffirmed an “outperform” rating on shares of Precision Drilling Corporation in a research report on Wednesday, April 26th. Jefferies Group LLC cut their price objective on Precision Drilling Corporation from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Wolfe Research cut Precision Drilling Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research cut Precision Drilling Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $7.01.
Shares of Precision Drilling Corporation (NYSE:PDS) traded up 0.30% during mid-day trading on Tuesday, hitting $3.36. 1,967,403 shares of the stock traded hands. Precision Drilling Corporation has a 12-month low of $3.28 and a 12-month high of $6.25. The firm’s market cap is $985.28 million. The firm’s 50 day moving average price is $3.69 and its 200 day moving average price is $4.80.
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Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Precision Drilling Corporation during the fourth quarter worth $22,327,000. Systematic Financial Management LP raised its position in shares of Precision Drilling Corporation by 21.0% in the fourth quarter. Systematic Financial Management LP now owns 14,292,223 shares of the oil and gas company’s stock worth $77,893,000 after buying an additional 2,482,497 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of Precision Drilling Corporation by 86.7% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 5,307,967 shares of the oil and gas company’s stock worth $25,054,000 after buying an additional 2,465,322 shares during the last quarter. Precocity Capital LP purchased a new position in shares of Precision Drilling Corporation during the fourth quarter worth $8,175,000. Finally, Point72 Europe London LLP purchased a new position in shares of Precision Drilling Corporation during the first quarter worth $7,078,000. Institutional investors own 63.34% of the company’s stock.
About Precision Drilling Corporation
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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