Precision Drilling (PD) to Release Earnings on Tuesday

Precision Drilling (TSE:PD) (NYSE:PDS) is scheduled to release its earnings data after the market closes on Tuesday, October 29th. Analysts expect Precision Drilling to post earnings of C$2.09 per share for the quarter.

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

Precision Drilling Stock Performance

TSE:PD opened at C$82.89 on Tuesday. 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 has a 1 year low of C$67.46 and a 1 year high of C$109.20. The stock’s 50 day simple moving average is C$90.00 and its two-hundred day simple moving average is C$94.37. The company has a market cap of C$1.17 billion, a price-to-earnings ratio of 5.17, a PEG ratio of -3.24 and a beta of 2.76.

Analysts Set New Price Targets

Several analysts recently weighed in on PD shares. Raymond James decreased their price target on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. BMO Capital Markets decreased their price target on Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. TD Securities reduced their target price on 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 increased their target price on Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, CIBC increased their target price on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$126.90.

Insider Activity at Precision Drilling

In other Precision Drilling news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Also, Director David Williams sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. 2.12% of the stock is owned by corporate insiders.

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.