Wall Street brokerages expect that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will report earnings of ($0.04) per share for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Precision Drilling’s earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.06). The company is expected to report its next quarterly earnings results on Thursday, February 13th.

According to Zacks, analysts expect that Precision Drilling will report full-year earnings of ($0.10) per share for the current year, with EPS estimates ranging from ($0.23) to ($0.02). For the next financial year, analysts anticipate that the company will post earnings of ($0.16) per share, with EPS estimates ranging from ($0.23) to ($0.10). Zacks Investment Research’s earnings per share averages are an 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, October 24th. The oil and gas company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Precision Drilling had a negative net margin of 11.99% and a negative return on equity of 0.99%. The company had revenue of $284.47 million for the quarter, compared to analyst estimates of $288.55 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis.

A number of research analysts recently commented on the stock. Citigroup downgraded shares of Precision Drilling from a “buy” rating to a “neutral” rating in a research report on Monday, September 30th. Canaccord Genuity restated a “buy” rating on shares of Precision Drilling in a research note on Friday, August 16th. Scotiabank raised Precision Drilling from an “underperform” rating to a “hold” rating and set a $1.50 price objective on the stock in a report on Friday, November 29th. Morgan Stanley cut their target price on Precision Drilling from $2.50 to $2.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, BMO Capital Markets set a $3.00 target price on Precision Drilling and gave the company a “buy” rating in a report on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1.95.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Precision Drilling by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,014,541 shares of the oil and gas company’s stock valued at $15,148,000 after acquiring an additional 449,089 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Precision Drilling by 5.7% in the 2nd quarter. Royal Bank of Canada now owns 6,578,697 shares of the oil and gas company’s stock valued at $12,433,000 after purchasing an additional 353,894 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Precision Drilling by 37.0% in the second quarter. Bank of Montreal Can now owns 4,062,356 shares of the oil and gas company’s stock valued at $7,678,000 after purchasing an additional 1,096,492 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Precision Drilling by 81.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,148,694 shares of the oil and gas company’s stock worth $2,162,000 after purchasing an additional 516,500 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Precision Drilling by 188.8% during the second quarter. Citadel Advisors LLC now owns 997,457 shares of the oil and gas company’s stock worth $1,881,000 after purchasing an additional 652,092 shares during the last quarter. Institutional investors own 35.25% of the company’s stock.

Shares of NYSE:PDS opened at $1.05 on Friday. The firm has a 50 day simple moving average of $1.07 and a 200-day simple moving average of $1.43. Precision Drilling has a twelve month low of $0.99 and a twelve month high of $3.01. The company has a current ratio of 1.85, a quick ratio of 1.73 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $303.50 million, a PE ratio of -4.04 and a beta of 2.39.

About Precision Drilling

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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