-$0.04 EPS Expected for Precision Drilling Corp (NYSE:PDS) This Quarter

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Analysts predict that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will post 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 ($0.03) and the lowest is ($0.06). The company is expected to issue its next quarterly earnings report on Thursday, February 13th.

On average, 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 expect 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 EPS calculations are an average based on a survey of research analysts that cover Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $288.55 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The business’s revenue was down 1.8% on a year-over-year basis.

PDS has been the topic of a number of recent research reports. TD Securities raised Precision Drilling to a “buy” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Scotiabank raised Precision Drilling from an “underperform” rating to a “hold” rating and set a $1.50 price target on the stock in a research note on Friday, November 29th. Citigroup cut Precision Drilling from a “buy” rating to a “neutral” rating in a research report on Monday, September 30th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Precision Drilling in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Precision Drilling currently has a consensus rating of “Buy” and an average price target of $1.95.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in Precision Drilling in the first quarter worth $36,000. Investment House LLC bought a new position in shares of Precision Drilling in the second quarter valued at about $39,000. Man Group plc bought a new position in shares of Precision Drilling in the third quarter valued at about $28,000. BlackRock Inc. lifted its position in Precision Drilling by 53,250.8% during the 2nd quarter. BlackRock Inc. now owns 31,477 shares of the oil and gas company’s stock worth $59,000 after buying an additional 31,418 shares in the last quarter. Finally, ARP Americas LP acquired a new position in Precision Drilling during the 2nd quarter worth about $71,000. Hedge funds and other institutional investors own 35.25% of the company’s stock.

NYSE PDS opened at $1.05 on Friday. Precision Drilling has a twelve month low of $0.99 and a twelve month high of $3.01. The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 1.01. The stock has a market cap of $303.50 million, a P/E ratio of -4.04 and a beta of 2.39. The company’s 50-day simple moving average is $1.07 and its 200 day simple moving average is $1.43.

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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Earnings History and Estimates for Precision Drilling (NYSE:PDS)

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