Precision Drilling Corp (PDS) Expected to Post Earnings of -$0.03 Per Share

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Analysts expect Precision Drilling Corp (NYSE:PDS) (TSE:PD) to report ($0.03) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Precision Drilling’s earnings, with estimates ranging from ($0.05) to ($0.02). Precision Drilling reported earnings per share of ($0.05) during the same quarter last year, which suggests a positive year over year growth rate of 40%. The firm is expected to issue its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Precision Drilling will report full-year earnings of ($0.17) per share for the current financial year, with EPS estimates ranging from ($0.23) to ($0.13). For the next fiscal year, analysts expect that the business will report earnings of $0.00 per share, with EPS estimates ranging from ($0.12) to $0.14. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Precision Drilling.

A number of research firms recently weighed in on PDS. Raymond James reiterated a “buy” rating on shares of Precision Drilling in a research note on Tuesday, March 19th. CIBC reiterated a “buy” rating on shares of Precision Drilling in a research note on Tuesday, March 19th. Scotiabank reiterated a “sell” rating on shares of Precision Drilling in a research note on Tuesday, March 19th. Zacks Investment Research upgraded shares of Precision Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. Finally, National Bank Financial reissued a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $3.92.

Large investors have recently made changes to their positions in the business. Vanguard Group Inc boosted its holdings in Precision Drilling by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 7,265,717 shares of the oil and gas company’s stock valued at $25,139,000 after purchasing an additional 220,935 shares during the period. Legal & General Group Plc boosted its holdings in Precision Drilling by 6.4% in the 3rd quarter. Legal & General Group Plc now owns 327,561 shares of the oil and gas company’s stock valued at $1,131,000 after purchasing an additional 19,746 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Precision Drilling by 20.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 250,494 shares of the oil and gas company’s stock valued at $864,000 after purchasing an additional 42,600 shares during the period. AGF Investments Inc. lifted its holdings in shares of Precision Drilling by 18.1% during the 4th quarter. AGF Investments Inc. now owns 5,796,991 shares of the oil and gas company’s stock worth $10,064,000 after acquiring an additional 886,800 shares during the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Precision Drilling by 5.2% during the 4th quarter. TD Asset Management Inc. now owns 1,252,487 shares of the oil and gas company’s stock worth $2,173,000 after acquiring an additional 61,601 shares during the last quarter. 47.67% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling stock traded up $0.01 during mid-day trading on Monday, reaching $2.43. The company’s stock had a trading volume of 23,622 shares, compared to its average volume of 947,667. Precision Drilling has a 12-month low of $1.62 and a 12-month high of $4.14. The firm has a market capitalization of $710.95 million, a price-to-earnings ratio of -9.35 and a beta of 2.29. The company has a current ratio of 1.85, a quick ratio of 1.73 and a debt-to-equity ratio of 1.10.

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 (NYSE:PDS)

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