Precision Drilling (TSE:PD) Announces Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Precision Drilling (TSE:PD) (NYSE:PDS) posted its quarterly earnings results on Thursday. The company reported C$2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.73 by C($0.20), reports. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The company had revenue of C$527.79 million for the quarter, compared to the consensus estimate of C$539.50 million.

Precision Drilling Stock Up 5.1 %

PD opened at C$98.91 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97. The firm has a 50 day moving average price of C$90.01 and a 200-day moving average price of C$82.27. Precision Drilling has a twelve month low of C$56.42 and a twelve month high of C$104.90. The stock has a market capitalization of C$1.43 billion, a price-to-earnings ratio of 5.06, a PEG ratio of -3.24 and a beta of 2.92.

Insider Activity

In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$489,696.48. In other Precision Drilling news, Director Carey Thomas Ford sold 3,756 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$233,472.96. Also, Senior Officer Veronica H. Foley sold 7,878 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. Insiders sold 21,373 shares of company stock valued at $1,329,227 over the last three months. Insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PD. Raymond James lifted their price objective on Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a research report on Friday. ATB Capital lifted their price objective on Precision Drilling from C$125.00 to C$126.00 in a research report on Monday, April 8th. Evercore cut their price objective on Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, CIBC lifted their price objective on Precision Drilling from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Precision Drilling currently has an average rating of “Buy” and an average target price of C$127.09.

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.