Zacks: Brokerages Anticipate Precision Drilling Corp (NYSE:PDS) Will Post Earnings of -$0.04 Per Share

Equities analysts predict that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will post earnings per share (EPS) of ($0.04) for the current quarter, according to Zacks. Seven analysts have issued estimates for Precision Drilling’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at $0.00. Precision Drilling posted earnings per share of ($0.08) during the same quarter last year, which indicates a positive year over year growth rate of 50%. The firm is expected to announce its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Precision Drilling will report full year earnings of ($0.10) per share for the current financial year, with EPS estimates ranging from ($0.19) to ($0.04). For the next financial year, analysts expect that the business will post earnings of ($0.03) per share, with EPS estimates ranging from ($0.09) to $0.03. Zacks Investment Research’s EPS 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 posted its earnings results on Thursday, July 25th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $359.00 million for the quarter, compared to analyst estimates of $346.66 million. Precision Drilling had a negative return on equity of 2.67% and a negative net margin of 13.63%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.16) EPS.

Several analysts have recently issued reports on the company. AltaCorp Capital reissued an “outperform” rating on shares of Precision Drilling in a report on Thursday, June 20th. Piper Jaffray Companies dropped their price objective on Precision Drilling from $2.50 to $2.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Raymond James restated a “buy” rating on shares of Precision Drilling in a research report on Wednesday, June 5th. ValuEngine upgraded Precision Drilling from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets restated a “buy” rating on shares of Precision Drilling in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $2.47.

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in shares of Precision Drilling in the first quarter valued at $36,000. Investment House LLC purchased a new position in Precision Drilling during the second quarter worth about $39,000. Millennium Management LLC purchased a new position in shares of Precision Drilling in the 4th quarter worth about $40,000. Evergreen Capital Management LLC purchased a new position in shares of Precision Drilling in the 1st quarter worth about $54,000. Finally, BlackRock Inc. boosted its holdings in shares of Precision Drilling by 53,250.8% in the 2nd quarter. BlackRock Inc. now owns 31,477 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 31,418 shares in the last quarter. Hedge funds and other institutional investors own 42.58% of the company’s stock.

NYSE PDS traded down $0.01 on Friday, reaching $1.09. The stock had a trading volume of 1,429,200 shares, compared to its average volume of 1,106,352. The company has a market cap of $323.16 million, a P/E ratio of -4.19 and a beta of 2.25. Precision Drilling has a 1-year low of $1.07 and a 1-year high of $4.12. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.83 and a quick ratio of 1.70. The firm has a fifty day moving average of $1.66 and a two-hundred day moving average of $2.12.

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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