Atb Cap Markets Has Negative Outlook of PDS FY2024 Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Research analysts at Atb Cap Markets lowered their FY2024 EPS estimates for shares of Precision Drilling in a research report issued to clients and investors on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $6.22 per share for the year, down from their previous estimate of $6.39. The consensus estimate for Precision Drilling’s current full-year earnings is $6.57 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q2 2025 earnings at $0.61 EPS and Q4 2025 earnings at $2.33 EPS.

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

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Piper Sandler boosted their price objective 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 Price Performance

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

Institutional Investors Weigh In On Precision Drilling

Large investors have recently added to or reduced their stakes in the stock. Hartree Partners LP lifted its position in shares of Precision Drilling by 113.3% in the 1st quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock worth $5,384,000 after purchasing an additional 42,500 shares during the period. Swiss National Bank lifted its position in shares of Precision Drilling by 6.3% in the 1st quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company’s stock worth $1,923,000 after purchasing an additional 1,700 shares during the period. Aegis Financial Corp purchased a new stake in shares of Precision Drilling in the 1st quarter worth approximately $6,124,000. O Shaughnessy Asset Management LLC lifted its position in shares of Precision Drilling by 27.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,549 shares of the oil and gas company’s stock worth $1,989,000 after purchasing an additional 6,328 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Precision Drilling by 29.0% in the 1st quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company’s stock worth $50,886,000 after purchasing an additional 159,871 shares during the period. 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.