Jefferies Group Research Analysts Cut Earnings Estimates for Precision Drilling Co. (PD)
Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Jefferies Group decreased their Q3 2017 earnings estimates for Precision Drilling in a report issued on Monday. Jefferies Group analyst B. Handler now anticipates that the company will post earnings per share of ($0.15) for the quarter, down from their prior forecast of ($0.13). Jefferies Group also issued estimates for Precision Drilling’s Q4 2017 earnings at ($0.14) EPS, FY2017 earnings at ($0.49) EPS, Q1 2018 earnings at ($0.10) EPS, FY2018 earnings at ($0.40) EPS, FY2019 earnings at $0.30 EPS and FY2020 earnings at $1.00 EPS.
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A number of other equities research analysts also recently commented on PD. Canaccord Genuity lowered their price objective on Precision Drilling from C$4.75 to C$4.25 in a research report on Wednesday, August 2nd. BMO Capital Markets lowered their price objective on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating for the company in a research report on Tuesday, August 1st. Royal Bank Of Canada lowered their price objective on Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating for the company in a research report on Friday, October 6th. Deutsche Bank AG reaffirmed a “hold” rating and issued a C$4.00 price objective on shares of Precision Drilling in a research report on Tuesday, October 10th. Finally, Raymond James Financial, Inc. lowered their price objective on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating for the company in a research report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Precision Drilling has an average rating of “Hold” and an average price target of C$6.91.
Precision Drilling (TSE PD) opened at 3.29 on Wednesday. The stock’s market capitalization is $964.75 million. The stock’s 50 day moving average price is $3.47 and its 200-day moving average price is $4.39. Precision Drilling has a 12-month low of $3.01 and a 12-month high of $8.21.
In other Precision Drilling news, Director Brian James Gibson purchased 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average price of C$3.58 per share, for a total transaction of C$125,300.00. Also, Director Steven Wayne Krablin purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of C$2.63 per share, for a total transaction of C$26,300.00. In the last 90 days, insiders have acquired 55,000 shares of company stock worth $182,900.
Precision Drilling 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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