Equities research analysts predict that Precision Drilling Corporation (NYSE:PDS) (TSE:PD) will announce $198.02 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Precision Drilling Corporation’s earnings, with the lowest sales estimate coming in at $188.30 million and the highest estimate coming in at $205.20 million. Precision Drilling Corporation posted sales of $127.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 55.7%. The firm is expected to issue its next earnings results before the market opens on Monday, July 31st.

According to Zacks, analysts expect that Precision Drilling Corporation will report full year sales of $198.02 million for the current financial year, with estimates ranging from $980.39 million to $1.04 billion. For the next year, analysts anticipate that the firm will post sales of $1.32 billion per share, with estimates ranging from $1.21 billion to $1.47 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Precision Drilling Corporation.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last posted its earnings results on Monday, April 24th. The oil and gas company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.05. The company had revenue of $346.80 million during the quarter, compared to analyst estimates of $345.06 million. Precision Drilling Corporation had a negative net margin of 16.02% and a negative return on equity of 8.10%. Precision Drilling Corporation’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share.

A number of research firms have recently weighed in on PDS. Morgan Stanley lowered shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $9.00 to $4.50 in a research note on Wednesday, June 21st. Piper Jaffray Companies lowered shares of Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $5.00 to $3.25 in a research note on Thursday, June 29th. BidaskClub upgraded shares of Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Wolfe Research lowered shares of Precision Drilling Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 6th. Finally, Raymond James Financial, Inc. upgraded shares of Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.44.

A number of institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in Precision Drilling Corporation during the first quarter valued at about $102,000. Cipher Capital LP bought a new position in Precision Drilling Corporation during the first quarter valued at about $120,000. Princeton Alpha Management LP increased its position in Precision Drilling Corporation by 18.3% in the first quarter. Princeton Alpha Management LP now owns 37,809 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 5,861 shares during the last quarter. Comerica Bank increased its position in Precision Drilling Corporation by 8.2% in the fourth quarter. Comerica Bank now owns 34,183 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 2,586 shares during the last quarter. Finally, RidgeWorth Capital Management LLC bought a new position in Precision Drilling Corporation during the first quarter valued at about $219,000. 63.24% of the stock is currently owned by institutional investors and hedge funds.

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Precision Drilling Corporation (NYSE:PDS) traded down 2.22% during mid-day trading on Friday, hitting $3.08. 2,851,452 shares of the stock were exchanged. The firm’s market capitalization is $903.17 million. The company’s 50-day moving average price is $3.56 and its 200 day moving average price is $4.66. Precision Drilling Corporation has a 52 week low of $2.92 and a 52 week high of $6.25.

Precision Drilling Corporation Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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Earnings History and Estimates for Precision Drilling Corporation (NYSE:PDS)

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