Jefferies Financial Group Comments on Precision Drilling Corp’s Q1 2019 Earnings (PD)

Precision Drilling Corp (TSE:PD) (NYSE:PDS) – Equities research analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for Precision Drilling in a report released on Thursday, January 10th. Jefferies Financial Group analyst B. Handler anticipates that the company will earn ($0.01) per share for the quarter. Jefferies Financial Group also issued estimates for Precision Drilling’s FY2020 earnings at $0.15 EPS and FY2021 earnings at $0.50 EPS.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Thursday, October 25th. The company reported C($0.10) earnings per share for the quarter, missing the consensus estimate of C($0.08) by C($0.02). The firm had revenue of C$382.46 million for the quarter, compared to analysts’ expectations of C$395.40 million.

A number of other analysts have also recently commented on PD. CIBC reduced their target price on shares of Precision Drilling from C$7.00 to C$6.25 in a report on Tuesday, October 16th. GMP Securities upped their target price on shares of Precision Drilling from C$7.00 to C$7.50 in a report on Tuesday, October 9th. Canaccord Genuity reduced their target price on shares of Precision Drilling from C$5.25 to C$4.75 in a report on Tuesday, October 16th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Precision Drilling in a report on Thursday, December 20th. Finally, TD Securities reaffirmed a “buy” rating and set a C$5.00 target price on shares of Precision Drilling in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$5.31.

PD opened at C$2.95 on Friday. The company has a debt-to-equity ratio of 98.19, a quick ratio of 1.73 and a current ratio of 1.85. Precision Drilling has a twelve month low of C$2.25 and a twelve month high of C$5.33.

In other news, Director Brian James Gibson acquired 40,000 shares of Precision Drilling stock in a transaction dated Tuesday, December 11th. The stock was purchased at an average cost of C$2.64 per share, with a total value of C$105,600.00. Also, Director Wane Jacob Stickland acquired 10,000 shares of Precision Drilling stock in a transaction dated Wednesday, October 31st. The stock was purchased at an average cost of C$3.17 per share, with a total value of C$31,700.00. Over the last three months, insiders bought 82,000 shares of company stock valued at $219,700.

Precision Drilling Company Profile

Precision Drilling Corporation 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 (TSE:PD)

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