Atb Cap Markets Has Negative Outlook of PDS FY2024 Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Equities research analysts at Atb Cap Markets dropped their FY2024 EPS estimates for Precision Drilling in a report issued on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $6.22 per share for the year, down from their prior forecast of $6.39. The consensus estimate for Precision Drilling’s current full-year earnings is $6.57 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q2 2025 earnings at $0.61 EPS and Q4 2025 earnings at $2.33 EPS.

A number of other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Piper Sandler upped their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd.

Precision Drilling Trading Down 1.3 %

NYSE:PDS opened at $59.25 on Friday. Precision Drilling has a 52 week low of $49.67 and a 52 week high of $79.07. The firm has a 50 day moving average of $63.93 and a 200 day moving average of $68.02. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $833.35 million, a price-to-earnings ratio of 5.01 and a beta of 1.96.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $2.06. Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%. The company had revenue of $429.20 million during the quarter, compared to analysts’ expectations of $310.13 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. Precision Drilling’s revenue for the quarter was up .8% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of Precision Drilling by 2,800.0% in the second quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 504 shares during the period. US Bancorp DE increased its stake in shares of Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 218 shares during the period. Signaturefd LLC increased its stake in shares of Precision Drilling by 32.6% in the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company’s stock worth $97,000 after acquiring an additional 340 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Precision Drilling in the second quarter worth $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Precision Drilling by 14.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 545 shares during the period. Institutional investors and hedge funds 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.