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

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Analysts at Atb Cap Markets dropped their Q3 2024 EPS estimates for shares of Precision Drilling in a report released on Thursday, June 27th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $2.53 per share for the quarter, down from their prior estimate 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.

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

A number of other equities research analysts have also issued reports on the stock. CIBC boosted their price target on shares of Precision Drilling from C$110.00 to C$130.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Raymond James raised their target price on Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 26th. Stifel Nicolaus upped their price target on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. 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 research report on Friday. Eight equities research 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.com, Precision Drilling currently has an average rating of “Buy” and an average price target of C$126.55.

Precision Drilling Price Performance

Shares of TSE:PD opened at C$96.20 on Monday. The company has a debt-to-equity ratio of 62.02, a quick ratio of 1.36 and a current ratio of 1.71. The company has a market capitalization of C$1.39 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90. The stock has a fifty day moving average of C$95.59 and a 200-day moving average of C$87.41. Precision Drilling has a one year low of C$61.52 and a one year high of C$104.90.

About Precision Drilling

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.