FY2024 Earnings Forecast for PDS Issued By Atb Cap Markets

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Stock analysts at Atb Cap Markets cut their FY2024 EPS estimates for shares of Precision Drilling in a research note issued to investors on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will earn $6.06 per share for the year, down from their prior estimate of $6.22. The consensus estimate for Precision Drilling’s current full-year earnings is $6.37 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q4 2024 earnings at $1.40 EPS, Q1 2025 earnings at $1.91 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $1.75 EPS, Q4 2025 earnings at $2.08 EPS, FY2025 earnings at $6.30 EPS, Q1 2026 earnings at $2.29 EPS, Q2 2026 earnings at $0.88 EPS, Q3 2026 earnings at $2.15 EPS and FY2026 earnings at $7.81 EPS.

Separately, Piper Sandler boosted their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd.

Precision Drilling Stock Performance

Shares of PDS opened at $61.33 on Thursday. The firm has a market capitalization of $862.73 million, a P/E ratio of 5.18 and a beta of 1.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.41 and a current ratio of 1.54. Precision Drilling has a 52 week low of $49.67 and a 52 week high of $79.07. The stock has a 50 day moving average price of $61.91 and a two-hundred day moving average price of $66.48.

Institutional Trading of Precision Drilling

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in shares of Precision Drilling by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock valued at $3,961,000 after acquiring an additional 11,331 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Precision Drilling by 18.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,690 shares of the oil and gas company’s stock valued at $510,000 after purchasing an additional 1,215 shares during the last quarter. Barclays PLC lifted its stake in shares of Precision Drilling by 1,579.0% during the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 3,158 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Precision Drilling by 6.6% in the third quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 424 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Precision Drilling during the third quarter worth approximately $361,000. 48.86% of the stock is 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.