Q4 EPS Estimate for Precision Drilling Decreased by Analyst

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Research analysts at Atb Cap Markets reduced their Q4 2024 earnings per share estimates for shares of Precision Drilling in a report released on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $1.45 per share for the quarter, down from their previous forecast of $1.90. 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 Q1 2025 earnings at $1.97 EPS, Q3 2025 earnings at $1.81 EPS, FY2025 earnings at $6.72 EPS, Q1 2026 earnings at $2.35 EPS, Q2 2026 earnings at $0.90 EPS, Q3 2026 earnings at $2.16 EPS and FY2026 earnings at $8.10 EPS.

PDS has been the subject of several other research reports. Piper Sandler lifted their price target on Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Precision Drilling Stock Performance

NYSE:PDS opened at $59.25 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.39. The business has a fifty day simple moving average of $63.93 and a two-hundred day simple moving average of $68.01. Precision Drilling has a 1 year low of $49.67 and a 1 year high of $79.07. The company has a market capitalization of $833.06 million, a P/E ratio of 5.01 and a beta of 1.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PDS. Squarepoint Ops LLC purchased a new position in Precision Drilling during the second quarter valued at approximately $210,000. Point72 Asset Management L.P. grew its stake in shares of Precision Drilling by 31.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock valued at $4,073,000 after buying an additional 13,749 shares during the period. Nicola Wealth Management LTD. grew its stake in shares of Precision Drilling by 75.0% in the 2nd quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock valued at $1,970,000 after buying an additional 12,000 shares during the period. Versor Investments LP purchased a new position in shares of Precision Drilling during the 2nd quarter worth approximately $527,000. Finally, Signaturefd LLC boosted 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 buying an additional 276 shares during the period. Institutional investors own 48.86% of the company’s stock.

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.