Analysts expect that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will report sales of $308.66 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Precision Drilling’s earnings. The lowest sales estimate is $300.20 million and the highest is $317.71 million. Precision Drilling posted sales of $250.82 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.1%. The company is expected to announce its next quarterly earnings report on Friday, October 26th.

According to Zacks, analysts expect that Precision Drilling will report full-year sales of $1.19 billion for the current fiscal year, with estimates ranging from $1.17 billion to $1.21 billion. For the next year, analysts forecast that the company will report sales of $1.35 billion per share, with estimates ranging from $1.23 billion to $1.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Precision Drilling had a negative net margin of 9.92% and a negative return on equity of 6.23%. The firm had revenue of $330.70 million during the quarter, compared to analysts’ expectations of $320.66 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis.

Several research firms recently weighed in on PDS. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Precision Drilling in a research note on Tuesday, July 31st. Jefferies Financial Group set a $5.00 price objective on Precision Drilling and gave the company a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine raised Precision Drilling from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 9th. Finally, Morgan Stanley raised Precision Drilling from an “equal weight” rating to an “overweight” rating and set a $4.25 price objective for the company in a research note on Thursday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Precision Drilling presently has an average rating of “Hold” and a consensus price target of $4.64.

NYSE PDS traded down $0.04 during mid-day trading on Wednesday, hitting $3.67. The stock had a trading volume of 2,023,000 shares, compared to its average volume of 2,169,290. Precision Drilling has a 52-week low of $2.26 and a 52-week high of $4.14. The company has a market capitalization of $1.09 billion, a P/E ratio of -13.39 and a beta of 1.79. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.79 and a quick ratio of 1.65.

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Precision Drilling by 103.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 770,037 shares of the oil and gas company’s stock worth $2,326,000 after buying an additional 391,120 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in Precision Drilling by 38.1% during the first quarter. PCJ Investment Counsel Ltd. now owns 420,240 shares of the oil and gas company’s stock worth $1,167,000 after buying an additional 115,840 shares in the last quarter. JPMorgan Chase & Co. increased its position in Precision Drilling by 1,439.4% during the first quarter. JPMorgan Chase & Co. now owns 159,621 shares of the oil and gas company’s stock worth $443,000 after buying an additional 149,252 shares in the last quarter. Toronto Dominion Bank increased its position in Precision Drilling by 412.7% during the first quarter. Toronto Dominion Bank now owns 1,026,215 shares of the oil and gas company’s stock worth $2,848,000 after buying an additional 826,062 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Precision Drilling by 36.7% during the first quarter. Royal Bank of Canada now owns 5,920,208 shares of the oil and gas company’s stock worth $16,400,000 after buying an additional 1,589,507 shares in the last quarter. 48.95% of the stock is owned by institutional investors.

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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