FY2029 Earnings Estimate for PDS Issued By Raymond James

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Equities researchers at Raymond James issued their FY2029 earnings per share estimates for Precision Drilling in a research note issued on Thursday, April 24th. Raymond James analyst M. Barth forecasts that the oil and gas company will post earnings of $13.25 per share for the year. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Precision Drilling’s current full-year earnings is $7.10 per share.

A number of other brokerages also recently weighed in on PDS. 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 research note on Monday, March 24th.

Precision Drilling Stock Performance

Shares of PDS stock opened at $43.45 on Monday. Precision Drilling has a 1-year low of $36.20 and a 1-year high of $79.07. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $587.46 million, a price-to-earnings ratio of 8.08 and a beta of 1.53. The stock’s fifty day simple moving average is $44.89 and its 200-day simple moving average is $55.28.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. The business had revenue of $345.41 million for the quarter, compared to analysts’ expectations of $508.06 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PDS. Arrowstreet Capital Limited Partnership grew its stake in Precision Drilling by 3,575.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock valued at $9,395,000 after purchasing an additional 149,616 shares in the last quarter. Bank of Montreal Can lifted its holdings in Precision Drilling by 28.0% in the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock worth $36,832,000 after purchasing an additional 131,843 shares during the last quarter. Millennium Management LLC boosted its position in Precision Drilling by 235.8% during the fourth quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company’s stock worth $9,621,000 after purchasing an additional 110,546 shares during the period. Bank of America Corp DE boosted its position in Precision Drilling by 33.3% during the fourth quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock worth $24,188,000 after purchasing an additional 98,836 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in Precision Drilling during the first quarter worth approximately $2,594,000. Hedge funds and other institutional investors 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.