FY2024 Earnings Estimate for PDS Issued By Raymond James

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Raymond James reduced their FY2024 earnings per share estimates for Precision Drilling in a note issued to investors on Wednesday, October 30th. Raymond James analyst M. Barth now anticipates that the oil and gas company will post earnings per share of $6.51 for the year, down from their prior estimate of $6.75. The consensus estimate for Precision Drilling’s current full-year earnings is $6.57 per share. Raymond James also issued estimates for Precision Drilling’s FY2025 earnings at $12.35 EPS and FY2028 earnings at $12.70 EPS.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $2.06. The firm had revenue of $429.20 million for the quarter, compared to analysts’ expectations of $310.13 million. Precision Drilling had a return on equity of 10.06% and a net margin of 12.52%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share.

A number of other research firms have also weighed in on PDS. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Piper Sandler increased their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd.

Precision Drilling Stock Performance

Precision Drilling stock opened at $59.25 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $63.93 and a 200-day moving average of $68.02. The firm has a market cap of $833.35 million, a P/E ratio of 5.01 and a beta of 1.96. Precision Drilling has a 1-year low of $49.67 and a 1-year high of $79.07.

Institutional Trading of Precision Drilling

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Precision Drilling by 2,800.0% in the second quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company’s stock worth $35,000 after buying an additional 504 shares during the period. US Bancorp DE lifted its holdings in Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after buying an additional 218 shares during the period. Signaturefd LLC lifted its holdings in Precision Drilling by 32.6% in the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company’s stock worth $97,000 after buying an additional 340 shares during the period. Squarepoint Ops LLC purchased a new stake in Precision Drilling in the second quarter worth about $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Precision Drilling by 14.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock worth $300,000 after buying an additional 545 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

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.