Precision Drilling (NYSE:PDS) Announces Earnings Results, Beats Estimates By $2.06 EPS

Precision Drilling (NYSE:PDS) (TSE:PD) issued its quarterly earnings data on Tuesday. The oil and gas company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $2.06, Briefing.com reports. The company had revenue of $429.20 million during the quarter, compared to the consensus estimate of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.37%. Precision Drilling’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 earnings per share.

Precision Drilling Stock Down 6.2 %

Shares of PDS stock traded down $4.64 during trading hours on Friday, reaching $70.24. 28,240 shares of the company’s stock were exchanged, compared to its average volume of 71,291. The stock’s 50 day moving average is $70.41 and its 200-day moving average is $67.28. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 6.18 and a beta of 2.03. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57. Precision Drilling has a fifty-two week low of $49.67 and a fifty-two week high of $79.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a research note on Thursday. Piper Sandler reduced their price objective on shares of Precision Drilling from $101.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $117.50.

Precision Drilling Company Profile

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.