Brokerages forecast that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will post $274.89 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Precision Drilling’s earnings, with the highest sales estimate coming in at $318.58 million and the lowest estimate coming in at $249.60 million. Precision Drilling reported sales of $212.64 million in the same quarter last year, which would suggest a positive year over year growth rate of 29.3%. The company is scheduled to report its next earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Precision Drilling will report full-year sales of $274.89 million for the current financial year, with estimates ranging from $999.10 million to $1.10 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.18 billion per share, with estimates ranging from $1.04 billion to $1.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Precision Drilling.

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

PDS has been the topic of several recent analyst reports. Piper Jaffray Companies upgraded shares of Precision Drilling from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $3.60 to $4.25 in a report on Monday, September 18th. ValuEngine upgraded shares of Precision Drilling from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Precision Drilling from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price objective (down from $7.00) on shares of Precision Drilling in a report on Friday, October 6th. Finally, Deutsche Bank initiated coverage on shares of Precision Drilling in a report on Tuesday, October 10th. They issued a “hold” rating and a $4.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $4.73.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Precision Drilling by 22.1% during the 2nd quarter. FMR LLC now owns 16,603,054 shares of the oil and gas company’s stock worth $56,719,000 after buying an additional 3,007,124 shares during the period. Vanguard Group Inc. increased its stake in Precision Drilling by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,074,303 shares of the oil and gas company’s stock worth $20,712,000 after buying an additional 413,573 shares during the period. TD Asset Management Inc. increased its stake in Precision Drilling by 2.3% during the 3rd quarter. TD Asset Management Inc. now owns 5,892,703 shares of the oil and gas company’s stock worth $18,284,000 after buying an additional 134,087 shares during the period. AGF Investments Inc. increased its stake in Precision Drilling by 21.7% during the 3rd quarter. AGF Investments Inc. now owns 1,871,291 shares of the oil and gas company’s stock worth $5,819,000 after buying an additional 334,000 shares during the period. Finally, Ninepoint Partners LP purchased a new stake in Precision Drilling during the 3rd quarter worth approximately $5,460,000. 49.23% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling (NYSE PDS) opened at $3.71 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.22 and a debt-to-equity ratio of 0.96. Precision Drilling has a fifty-two week low of $2.26 and a fifty-two week high of $6.07. The company has a market cap of $1,090.00, a P/E ratio of -11.59 and a beta of 1.77.

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

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