FY2024 Earnings Estimate for Precision Drilling Co. Issued By Raymond James (NYSE:PDS)

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Equities research analysts at Raymond James dropped their FY2024 earnings per share estimates for shares of Precision Drilling in a research note issued on Friday, April 26th. Raymond James analyst M. Barth now anticipates that the oil and gas company will earn $8.67 per share for the year, down from their previous forecast of $8.73. The consensus estimate for Precision Drilling’s current full-year earnings is $6.38 per share. Raymond James also issued estimates for Precision Drilling’s FY2025 earnings at $12.11 EPS and FY2028 earnings at $14.69 EPS.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. The business had revenue of $391.51 million for the quarter, compared to analysts’ expectations of $399.44 million.

PDS has been the topic of several other reports. Piper Sandler lowered their price target on Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.17.

Precision Drilling Price Performance

NYSE PDS opened at $70.18 on Monday. The business’s fifty day moving average price is $66.44 and its 200-day moving average price is $60.71. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 6.17 and a beta of 2.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59. Precision Drilling has a 1-year low of $41.56 and a 1-year high of $77.21.

Institutional Trading of Precision Drilling

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Precision Drilling by 41.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock worth $251,000 after buying an additional 1,084 shares during the period. TD Asset Management Inc lifted its holdings in shares of Precision Drilling by 117.2% during the 3rd quarter. TD Asset Management Inc now owns 104,956 shares of the oil and gas company’s stock valued at $7,065,000 after purchasing an additional 56,623 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Precision Drilling by 2.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,165 shares of the oil and gas company’s stock valued at $818,000 after purchasing an additional 324 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Precision Drilling by 41.3% during the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 269 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Precision Drilling during the 3rd quarter valued at $243,000. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.