Precision Drilling Corp (TSE:PD) (NYSE:PDS) – Research analysts at Jefferies Financial Group reduced their Q1 2019 earnings per share estimates for Precision Drilling in a report released on Monday, October 29th. Jefferies Financial Group analyst B. Handler now anticipates that the company will post earnings of $0.02 per share for the quarter, down from their prior forecast of $0.05. Jefferies Financial Group also issued estimates for Precision Drilling’s Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.06 EPS, FY2021 earnings at $0.80 EPS and FY2022 earnings at $1.10 EPS.
Several other research firms have also recently commented on PD. Raymond James boosted their price target on shares of Precision Drilling from C$5.75 to C$7.25 and gave the company a “strong-buy” rating in a report on Tuesday, July 10th. Canaccord Genuity upped their price objective on shares of Precision Drilling from C$5.00 to C$5.25 in a report on Tuesday, July 10th. TD Securities cut shares of Precision Drilling from an “action list buy” rating to a “buy” rating and upped their price objective for the stock from C$7.00 to C$7.50 in a report on Wednesday, September 5th. Cormark upped their price objective on shares of Precision Drilling from C$5.50 to C$6.00 in a report on Friday, July 27th. Finally, GMP Securities upped their price objective on shares of Precision Drilling from C$7.00 to C$7.50 in a report on Tuesday, October 9th.
Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Thursday, October 25th. The company reported C($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.08) by C($0.02). Precision Drilling had a negative net margin of 13.54% and a negative return on equity of 10.28%. The firm had revenue of C$382.46 million for the quarter, compared to analyst estimates of C$395.40 million.
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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