Precision Drilling Co. (NYSE:PDS) Forecasted to Post Q4 2024 Earnings of $2.61 Per Share

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Stock analysts at Atb Cap Markets cut their Q4 2024 earnings estimates for Precision Drilling in a research note issued to investors on Thursday, April 25th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings of $2.61 per share for the quarter, down from their prior estimate of $2.62. The consensus estimate for Precision Drilling’s current full-year earnings is $6.38 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q1 2025 earnings at $2.95 EPS, Q4 2025 earnings at $3.39 EPS, FY2025 earnings at $9.68 EPS and Q1 2026 earnings at $3.45 EPS.

Several other analysts also recently issued reports on PDS. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler reduced their price target 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Precision Drilling presently has a consensus rating of “Moderate Buy” and an average price target of $115.17.

Precision Drilling Stock Up 5.1 %

Shares of NYSE PDS opened at $72.30 on Monday. Precision Drilling has a 12-month low of $41.56 and a 12-month high of $77.21. The company has a market capitalization of $1.05 billion, a PE ratio of 6.35 and a beta of 2.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.30. The firm’s 50-day moving average is $66.23 and its two-hundred day moving average is $60.62.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The company had revenue of $391.51 million for the quarter, compared to analysts’ expectations of $399.44 million. Precision Drilling had a return on equity of 10.44% and a net margin of 12.00%.

Hedge Funds Weigh In On Precision Drilling

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Precision Drilling by 41.3% during the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 269 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Precision Drilling during the fourth quarter valued at approximately $88,000. Barometer Capital Management Inc. purchased a new position in shares of Precision Drilling during the third quarter valued at approximately $148,000. Quantbot Technologies LP purchased a new position in shares of Precision Drilling during the third quarter valued at approximately $243,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Precision Drilling by 41.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 1,084 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

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.