Wall Street analysts predict that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will report earnings of ($0.04) per share for the current quarter, according to Zacks. Seven analysts have made estimates for Precision Drilling’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.05). Precision Drilling posted earnings per share of ($0.08) in the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Precision Drilling will report full-year earnings of ($0.10) per share for the current fiscal year, with EPS estimates ranging from ($0.19) to ($0.04). For the next fiscal year, analysts expect that the company will report earnings of ($0.03) per share, with EPS estimates ranging from ($0.09) to $0.03. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.04. Precision Drilling had a negative net margin of 13.63% and a negative return on equity of 2.67%. The company had revenue of $359.00 million for the quarter, compared to analyst estimates of $346.66 million. During the same quarter last year, the business earned ($0.16) earnings per share. Precision Drilling’s revenue was up 8.6% compared to the same quarter last year.

Several brokerages have commented on PDS. Piper Jaffray Companies dropped their price target on shares of Precision Drilling from $2.50 to $2.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. AltaCorp Capital restated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, June 20th. Morgan Stanley dropped their price target on shares of Precision Drilling from $3.50 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. BMO Capital Markets restated a “buy” rating on shares of Precision Drilling in a research note on Friday, April 26th. Finally, Zacks Investment Research lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Precision Drilling has an average rating of “Buy” and an average target price of $2.47.

Shares of NYSE:PDS traded down $0.08 during trading hours on Friday, hitting $1.11. The stock had a trading volume of 39,540 shares, compared to its average volume of 1,106,122. The firm has a fifty day moving average price of $1.69. Precision Drilling has a 1-year low of $1.18 and a 1-year high of $4.12. The firm has a market capitalization of $370.60 million, a price-to-earnings ratio of -4.19 and a beta of 2.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.83 and a quick ratio of 1.70.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Foundation Resource Management Inc. boosted its holdings in Precision Drilling by 1.1% during the second quarter. Foundation Resource Management Inc. now owns 529,167 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 5,985 shares in the last quarter. Swiss National Bank boosted its holdings in Precision Drilling by 2.8% during the second quarter. Swiss National Bank now owns 544,300 shares of the oil and gas company’s stock worth $1,022,000 after buying an additional 14,700 shares in the last quarter. Marshall Wace LLP bought a new stake in Precision Drilling during the first quarter worth approximately $36,000. Investment House LLC bought a new stake in Precision Drilling during the second quarter worth approximately $39,000. Finally, Bank of Nova Scotia boosted its holdings in Precision Drilling by 39.5% during the second quarter. Bank of Nova Scotia now owns 74,291 shares of the oil and gas company’s stock worth $143,000 after buying an additional 21,030 shares in the last quarter. Institutional investors and hedge funds own 42.58% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, 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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