Precision Drilling (PDS) Posts Quarterly Earnings, Misses Estimates By $0.07 EPS
Precision Drilling (NYSE:PDS) posted its quarterly earnings results on Thursday. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.17 by $0.07, American Banking and Market News reports. The company had revenue of $488.45 million for the quarter, compared to the consensus estimate of $508.26 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Scotiabank raised their price target on shares of Precision Drilling from $12.00 to $13.00 in a research note to investors on Tuesday. On the ratings front, analysts at FirstEnergy Capital downgraded shares of Precision Drilling to a “market perform” rating in a research note to investors on Monday. Finally, analysts at CIBC reiterated a “sector outperform” rating on shares of Precision Drilling in a research note to investors on Wednesday, October 9th. They now have a $13.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.77.
Precision Drilling (NYSE:PDS) traded down 3.23% on Thursday, hitting $10.142. 809,982 shares of the company’s stock traded hands. Precision Drilling has a 52 week low of $6.64 and a 52 week high of $10.77. The stock’s 50-day moving average is $10.20 and its 200-day moving average is $8.99. The company has a market cap of $2.806 billion and a P/E ratio of 171.80.
Precision Drilling Corporation (NYSE:PDS) is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada and the United States.
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