Atb Cap Markets Has Positive View of TSE:PD FY2024 Earnings

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Stock analysts at Atb Cap Markets lifted their FY2024 earnings per share (EPS) estimates for Precision Drilling in a report issued on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of $8.64 per share for the year, up from their prior estimate of $8.63. Atb Cap Markets also issued estimates for Precision Drilling’s Q4 2024 earnings at $2.02 EPS, Q2 2025 earnings at $0.85 EPS, Q3 2025 earnings at $2.52 EPS, FY2025 earnings at $9.34 EPS, Q1 2026 earnings at $3.27 EPS, Q2 2026 earnings at $1.25 EPS, Q3 2026 earnings at $3.00 EPS and FY2026 earnings at $11.25 EPS.

A number of other research analysts have also commented on the stock. BMO Capital Markets lowered their price objective on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. TD Securities lowered their price objective on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their price target on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Raymond James decreased their price target on shares of Precision Drilling from C$143.00 to C$142.00 in a research report on Tuesday, October 15th. Finally, ATB Capital decreased their price target on shares of Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$126.90.

Precision Drilling Stock Performance

PD opened at C$85.31 on Monday. Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The stock has a market cap of C$1.20 billion, a PE ratio of 5.33, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The business’s 50 day moving average is C$87.42 and its 200-day moving average is C$93.32.

Insiders Place Their Bets

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling 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. In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction 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. Also, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction 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. 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.