Precision Drilling (PDS) Set to Announce Earnings on Thursday

Precision Drilling (NYSE:PDS) (TSE:PD) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $2.11 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $1.36. The firm had revenue of $372.34 million for the quarter, compared to the consensus estimate of $355.78 million. Precision Drilling had a net margin of 14.87% and a return on equity of 14.81%. On average, analysts expect Precision Drilling to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Precision Drilling Price Performance

Shares of NYSE:PDS opened at $68.23 on Thursday. The company’s 50-day moving average is $65.47 and its 200 day moving average is $60.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.40. The company has a market capitalization of $987.97 million, a P/E ratio of 5.01 and a beta of 2.11. Precision Drilling has a fifty-two week low of $41.56 and a fifty-two week high of $77.21.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $115.17.

Institutional Trading of Precision Drilling

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Precision Drilling by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,138 shares of the oil and gas company’s stock worth $393,000 after buying an additional 175 shares in the last quarter. Barclays PLC boosted its stake in shares of Precision Drilling by 150.0% during the fourth quarter. Barclays PLC now owns 500 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 300 shares during the period. Great West Life Assurance Co. Can purchased a new stake in shares of Precision Drilling during the first quarter valued at approximately $27,000. The Manufacturers Life Insurance Company boosted its stake in shares of Precision Drilling by 1.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 27,162 shares of the oil and gas company’s stock valued at $2,079,000 after purchasing an additional 354 shares during the period. Finally, Credit Suisse AG boosted its stake in shares of Precision Drilling by 3.4% during the third quarter. Credit Suisse AG now owns 10,975 shares of the oil and gas company’s stock valued at $556,000 after purchasing an additional 361 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.