Atb Cap Markets Brokers Cut Earnings Estimates for Precision Drilling Co. (NYSE:PDS)
Precision Drilling Co. (NYSE:PDS – Free Report) (TSE:PD) – Investment analysts at Atb Cap Markets decreased their Q2 2024 EPS estimates for Precision Drilling in a report issued on Sunday, April 7th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.24. The consensus estimate for Precision Drilling’s current full-year earnings is $6.82 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q4 2024 earnings at $2.62 EPS, FY2024 earnings at $6.02 EPS and FY2026 earnings at $10.57 EPS.
Separately, Piper Sandler reduced their target price on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $118.00.
Check Out Our Latest Stock Analysis on Precision Drilling
Precision Drilling Stock Down 0.1 %
NYSE:PDS opened at $75.42 on Wednesday. The firm’s 50-day moving average price is $64.55 and its 200-day moving average price is $60.20. The company has a market capitalization of $1.09 billion, a PE ratio of 5.54 and a beta of 2.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.30. Precision Drilling has a 1-year low of $41.56 and a 1-year high of $77.21.
Precision Drilling (NYSE:PDS – Get Free Report) (TSE:PD) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $2.09 by $1.36. Precision Drilling had a net margin of 14.87% and a return on equity of 14.81%. The business had revenue of $372.34 million for the quarter, compared to analysts’ expectations of $355.78 million.
Hedge Funds Weigh In On Precision Drilling
Hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can bought a new position in Precision Drilling during the 1st quarter valued at about $27,000. Deutsche Bank AG purchased a new stake in shares of Precision Drilling during the 4th quarter valued at about $35,000. Barclays PLC increased its position in shares of Precision Drilling by 150.0% during the 4th quarter. Barclays PLC now owns 500 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN purchased a new stake in shares of Precision Drilling during the 4th quarter valued at about $38,000. Finally, Signaturefd LLC increased its holdings in Precision Drilling by 41.3% in the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 269 shares in the last quarter. Institutional investors own 48.86% of the company’s stock.
About Precision Drilling
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.
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