Equities analysts expect Precision Drilling Corporation (NYSE:PDS) (TSE:PD) to announce sales of $273.44 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Precision Drilling Corporation’s earnings. The highest sales estimate is $318.58 million and the lowest is $250.30 million. Precision Drilling Corporation posted sales of $212.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The company is scheduled to report its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Precision Drilling Corporation will report full year sales of $273.44 million for the current fiscal year, with estimates ranging from $980.40 million to $1.10 billion. For the next year, analysts anticipate that the business will report sales of $1.18 billion per share, with estimates ranging from $1.05 billion to $1.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Precision Drilling Corporation.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last posted its earnings results on Friday, October 27th. The oil and gas company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. Precision Drilling Corporation had a negative return on equity of 5.93% and a negative net margin of 9.45%. The firm had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $320.36 million. During the same period last year, the firm earned ($0.16) EPS. The firm’s revenue was up 47.2% compared to the same quarter last year.

Several research firms have issued reports on PDS. UBS AG raised Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 6th. J P Morgan Chase & Co downgraded Precision Drilling Corporation from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $4.50 price objective (down previously from $6.00) on shares of Precision Drilling Corporation in a report on Wednesday, August 2nd. ValuEngine raised Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $3.25 price objective on shares of Precision Drilling Corporation in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Precision Drilling Corporation currently has an average rating of “Buy” and an average target price of $5.37.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDS. Franklin Resources Inc. increased its position in shares of Precision Drilling Corporation by 44.6% in the 2nd quarter. Franklin Resources Inc. now owns 44,803,597 shares of the oil and gas company’s stock valued at $153,112,000 after buying an additional 13,815,928 shares in the last quarter. FMR LLC increased its position in shares of Precision Drilling Corporation by 22.1% in the 2nd quarter. FMR LLC now owns 16,603,054 shares of the oil and gas company’s stock valued at $56,719,000 after buying an additional 3,007,124 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Precision Drilling Corporation by 162.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,024,852 shares of the oil and gas company’s stock valued at $4,840,000 after buying an additional 634,221 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of Precision Drilling Corporation by 8.5% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 5,758,072 shares of the oil and gas company’s stock valued at $19,635,000 after buying an additional 450,105 shares in the last quarter. Finally, Scotia Capital Inc. increased its position in shares of Precision Drilling Corporation by 326.1% in the 2nd quarter. Scotia Capital Inc. now owns 545,570 shares of the oil and gas company’s stock valued at $1,855,000 after buying an additional 417,523 shares in the last quarter. Institutional investors and hedge funds own 59.65% of the company’s stock.

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About Precision Drilling Corporation

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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