Jefferies Group Comments on Precision Drilling Co.’s Q2 2018 Earnings (PD)
Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Stock analysts at Jefferies Group issued their Q2 2018 earnings per share (EPS) estimates for Precision Drilling in a report issued on Monday. Jefferies Group analyst B. Handler forecasts that the company will post earnings of ($0.16) per share for the quarter. Jefferies Group also issued estimates for Precision Drilling’s Q3 2018 earnings at ($0.08) EPS and Q4 2018 earnings at ($0.06) EPS.
Other analysts have also recently issued reports about the company. Canaccord Genuity decreased their price objective on Precision Drilling from C$4.75 to C$4.25 in a report on Wednesday, August 2nd. BMO Capital Markets decreased their price objective on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Royal Bank Of Canada decreased their price objective on Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a report on Friday, October 6th. Deutsche Bank AG reaffirmed a “hold” rating and set a C$4.00 price objective on shares of Precision Drilling in a report on Tuesday, October 10th. Finally, Raymond James Financial, Inc. decreased their price objective on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating on the stock in a report on Tuesday, August 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$6.91.
Precision Drilling (PD) traded up 0.31% on Tuesday, hitting $3.28. 597,871 shares of the company traded hands. Precision Drilling has a 1-year low of $3.01 and a 1-year high of $8.21. The firm’s market capitalization is $961.82 million. The firm’s 50 day moving average price is $3.47 and its 200 day moving average price is $4.39.
In related news, Director Brian James Gibson bought 35,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of C$3.58 per share, with a total value of C$125,300.00. Also, Director Kevin A. Neveu bought 10,000 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were bought at an average cost of C$3.13 per share, for a total transaction of C$31,300.00. In the last three months, insiders have bought 55,000 shares of company stock worth $182,900.
About Precision Drilling
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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