Raymond James Cuts Earnings Estimates for Precision Drilling

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Equities research analysts at Raymond James lowered their FY2025 EPS estimates for Precision Drilling in a report released on Tuesday, October 15th. Raymond James analyst M. Barth now expects that the company will post earnings of $17.32 per share for the year, down from their prior forecast of $18.68.

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

Precision Drilling Stock Up 0.0 %

Shares of TSE:PD opened at C$83.51 on Friday. The firm has a market capitalization of C$1.18 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The business has a 50 day simple moving average of C$90.23 and a two-hundred day simple moving average of C$94.39. Precision Drilling has a 1 year low of C$67.46 and a 1 year high of C$109.20. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36.

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

Insider Transactions at Precision Drilling

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

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.