Raymond James Issues Pessimistic Estimate for PDS Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Equities researchers at Raymond James reduced their FY2028 earnings per share (EPS) estimates for shares of Precision Drilling in a note issued to investors on Thursday, February 13th. Raymond James analyst M. Barth now forecasts that the oil and gas company will post earnings of $12.43 per share for the year, down from their previous estimate of $12.70. The consensus estimate for Precision Drilling’s current full-year earnings is $6.03 per share.

PDS has been the topic of several other research reports. TD Securities downgraded Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday.

Precision Drilling Price Performance

Shares of NYSE PDS opened at $54.68 on Monday. The stock’s 50-day moving average is $60.55 and its two-hundred day moving average is $63.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41. Precision Drilling has a 1-year low of $53.31 and a 1-year high of $79.07. The company has a market cap of $753.42 million, a price-to-earnings ratio of 4.62 and a beta of 1.91.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. US Bancorp DE raised its position in Precision Drilling by 56.6% in the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 218 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Precision Drilling in the 4th quarter valued at $71,000. Signaturefd LLC raised its position in Precision Drilling by 19.9% in the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 276 shares during the last quarter. Blue Trust Inc. raised its position in Precision Drilling by 283.7% in the 3rd quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 1,481 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

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.