FY2024 Earnings Estimate for TSE:PD Issued By Raymond James

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Stock analysts at Raymond James decreased their FY2024 EPS estimates for shares of Precision Drilling in a note issued to investors on Wednesday, October 30th. Raymond James analyst M. Barth now expects that the company will earn $9.04 per share for the year, down from their prior forecast of $9.12. Raymond James also issued estimates for Precision Drilling’s FY2025 earnings at $17.15 EPS, FY2026 earnings at $19.48 EPS and FY2028 earnings at $17.64 EPS.

A number of other analysts have also recently commented on PD. TD Securities cut their price target on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada raised their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. ATB Capital lowered their price target on Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. BMO Capital Markets reduced their target price on Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Finally, CIBC increased their price target on Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$126.90.

Precision Drilling Trading Down 1.7 %

TSE PD opened at C$83.63 on Friday. The company has a market cap of C$1.18 billion, a PE ratio of 5.22, a PEG ratio of -3.24 and a beta of 2.76. Precision Drilling has a 12 month low of C$67.46 and a 12 month high of C$109.20. The stock has a 50 day moving average of C$88.00 and a 200-day moving average of C$93.71. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.85) by C$2.29. The firm had revenue of C$429.21 million during the quarter, compared to the consensus estimate of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Also, Director David Williams sold 3,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. Insiders own 2.12% 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.