Raymond James Has Bearish Estimate for PDS FY2028 Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Analysts at Raymond James reduced their FY2028 earnings per share estimates for Precision Drilling in a report released on Thursday, February 13th. Raymond James analyst M. Barth now expects that the oil and gas company will earn $12.43 per share for the year, down from their prior forecast of $12.70. The consensus estimate for Precision Drilling’s current full-year earnings is $6.03 per share.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a return on equity of 10.06% and a net margin of 12.52%.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. TD Securities downgraded shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd.

Precision Drilling Stock Performance

Shares of PDS opened at $54.90 on Monday. The stock has a 50-day moving average of $60.32 and a 200-day moving average of $63.00. The company has a market cap of $756.45 million, a PE ratio of 4.64 and a beta of 1.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41. Precision Drilling has a one year low of $53.31 and a one year high of $79.07.

Institutional Investors Weigh In On Precision Drilling

A number of hedge funds have recently made changes to their positions in PDS. Blue Trust Inc. boosted its stake in Precision Drilling by 283.7% in the third quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 1,481 shares during the last quarter. Signaturefd LLC raised its position in shares of Precision Drilling by 19.9% in the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 276 shares during the period. US Bancorp DE lifted its stake in shares of Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 218 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in Precision Drilling in the 3rd quarter worth approximately $472,000. Finally, Northwest & Ethical Investments L.P. grew its stake in Precision Drilling by 22.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 606 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors.

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.