Precision Drilling Corp Forecasted to Earn Q1 2020 Earnings of $0.02 Per Share (PDS)

Precision Drilling Corp (NYSE:PDS) (TSE:PD) – Equities research analysts at Cormark issued their Q1 2020 earnings per share estimates for shares of Precision Drilling in a research note issued on Friday, April 26th. Cormark analyst A. Arif anticipates that the oil and gas company will earn $0.02 per share for the quarter. Cormark also issued estimates for Precision Drilling’s Q2 2020 earnings at $0.01 EPS, Q3 2020 earnings at $0.03 EPS and Q4 2020 earnings at $0.04 EPS.

PDS has been the topic of several other reports. Raymond James raised Precision Drilling from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. ValuEngine lowered Precision Drilling from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. National Bank Financial reaffirmed a “buy” rating on shares of Precision Drilling in a research note on Tuesday, March 19th. Zacks Investment Research lowered Precision Drilling from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Finally, Scotiabank reaffirmed a “sell” rating on shares of Precision Drilling in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $3.92.

NYSE:PDS opened at $2.60 on Monday. The stock has a market capitalization of $763.83 million, a P/E ratio of -10.00 and a beta of 2.28. The company has a current ratio of 1.85, a quick ratio of 1.73 and a debt-to-equity ratio of 1.10. Precision Drilling has a twelve month low of $1.62 and a twelve month high of $4.14.

Large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG raised its position in Precision Drilling by 9.7% in the third quarter. Credit Suisse AG now owns 283,813 shares of the oil and gas company’s stock valued at $983,000 after purchasing an additional 25,179 shares during the last quarter. Morgan Stanley raised its position in Precision Drilling by 1.8% in the third quarter. Morgan Stanley now owns 1,387,162 shares of the oil and gas company’s stock valued at $4,799,000 after purchasing an additional 25,041 shares during the last quarter. Vanguard Group Inc. raised its position in Precision Drilling by 3.1% in the third quarter. Vanguard Group Inc. now owns 7,265,717 shares of the oil and gas company’s stock valued at $25,139,000 after purchasing an additional 220,935 shares during the last quarter. Marshall Wace LLP bought a new position in Precision Drilling in the third quarter valued at about $1,523,000. Finally, Vanguard Group Inc raised its position in Precision Drilling by 3.1% in the third quarter. Vanguard Group Inc now owns 7,265,717 shares of the oil and gas company’s stock valued at $25,139,000 after purchasing an additional 220,935 shares during the last quarter. 47.49% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, 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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Earnings History and Estimates for Precision Drilling (NYSE:PDS)

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