Brokers Issue Forecasts for Precision Drilling Co.’s Q3 2024 Earnings (TSE:PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Equities researchers at Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for Precision Drilling in a research note issued to investors on Thursday, June 27th. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings of $2.53 per share for the quarter, down from their previous forecast of $2.78. The consensus estimate for Precision Drilling’s current full-year earnings is $9.27 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q3 2025 earnings at $3.84 EPS.

PD has been the topic of several other research reports. Stifel Nicolaus increased their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Raymond James upped their target price on Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. CIBC upped their target price on Precision Drilling from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, ATB Capital decreased their price objective on Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating for the company in a report on Friday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$126.55.

Precision Drilling Price Performance

Precision Drilling has a 52 week low of C$61.52 and a 52 week high of C$104.90. The company has a market capitalization of C$1.39 billion, a PE ratio of 5.83, a P/E/G ratio of -3.24 and a beta of 2.90. The business has a 50-day moving average price of C$95.71 and a 200 day moving average price of C$87.57. The company has a debt-to-equity ratio of 62.02, a quick ratio of 1.36 and a current ratio of 1.71.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Thursday, April 25th. The company reported C$2.53 EPS for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). The business had revenue of C$527.79 million for the quarter, compared to the consensus estimate of C$539.50 million. Precision Drilling had a net margin of 12.06% and a return on equity of 15.46%.

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.