Precision Drilling Corp (TSE:PD) (NYSE:PDS) – Equities researchers at Jefferies Financial Group reduced their Q1 2019 earnings estimates for shares of Precision Drilling in a research note issued on Monday, October 29th. Jefferies Financial Group analyst B. Handler now expects that the company will post earnings of $0.02 per share for the quarter, down from their previous estimate of $0.05. Jefferies Financial Group also issued estimates for Precision Drilling’s Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.06 EPS, FY2021 earnings at $0.80 EPS and FY2022 earnings at $1.10 EPS.
Other analysts also recently issued research reports about the company. Canaccord Genuity lowered their target price on Precision Drilling from C$5.25 to C$4.75 in a research report on Tuesday, October 16th. Raymond James lifted their price target on Precision Drilling from C$5.75 to C$7.25 and gave the stock a “strong-buy” rating in a report on Tuesday, July 10th. CIBC reduced their price target on Precision Drilling from C$7.00 to C$6.25 in a report on Tuesday, October 16th. Cormark lifted their price target on Precision Drilling from C$5.50 to C$6.00 in a report on Friday, July 27th. Finally, GMP Securities lifted their price target on Precision Drilling from C$7.00 to C$7.50 in a report on Tuesday, October 9th.
Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Thursday, October 25th. The company reported C($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.08) by C($0.02). The company had revenue of C$382.46 million during the quarter, compared to analyst estimates of C$395.40 million. Precision Drilling had a negative net margin of 13.54% and a negative return on equity of 10.28%.
Precision Drilling Company Profile
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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