Precision Drilling Corp. (NYSE:PDS) – Equities research analysts at DA Davidson issued their Q3 2016 EPS estimates for shares of Precision Drilling Corp. in a report released on Wednesday. DA Davidson analyst S. Randhawa expects that the brokerage will post earnings per share of ($0.14) for the quarter. DA Davidson currently has a “Buy” rating on the stock. DA Davidson also issued estimates for Precision Drilling Corp.’s Q4 2016 earnings at ($0.11) EPS, FY2016 earnings at ($0.47) EPS, Q1 2017 earnings at ($0.11) EPS, Q2 2017 earnings at ($0.14) EPS, Q3 2017 earnings at ($0.08) EPS, Q4 2017 earnings at ($0.06) EPS, FY2017 earnings at ($0.39) EPS and FY2018 earnings at $0.02 EPS.

Several other analysts have also commented on PDS. Deutsche Bank AG set a $5.00 price target on shares of Precision Drilling Corp. and gave the company a “hold” rating in a research report on Sunday, July 24th. Jefferies Group lifted their price target on shares of Precision Drilling Corp. from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Monday, July 11th. Zacks Investment Research raised shares of Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Thursday, June 30th. Credit Suisse Group AG lowered shares of Precision Drilling Corp. from a “neutral” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Wednesday, June 1st. Finally, Scotiabank reaffirmed an “underperform” rating and set a $6.00 price target (up previously from $3.50) on shares of Precision Drilling Corp. in a research report on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Precision Drilling Corp. has an average rating of “Hold” and an average target price of $5.47.

Shares of Precision Drilling Corp. (NYSE:PDS) opened at 3.58 on Monday. Precision Drilling Corp. has a 12 month low of $2.43 and a 12 month high of $6.08. The company’s market cap is $1.05 billion. The firm’s 50-day moving average price is $4.28 and its 200 day moving average price is $4.58.

Precision Drilling Corp. (NYSE:PDS) last announced its earnings results on Thursday, July 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. The business had revenue of $164 million for the quarter, compared to analysts’ expectations of $172.98 million. Precision Drilling Corp. had a negative return on equity of 5.54% and a negative net margin of 37.17%. The business’s revenue for the quarter was down 51.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS.

Several institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. purchased a new position in shares of Precision Drilling Corp. during the first quarter worth approximately $140,000. Pacad Investment Ltd. purchased a new position in shares of Precision Drilling Corp. during the second quarter worth approximately $196,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Precision Drilling Corp. during the second quarter worth approximately $218,000. Envestnet Asset Management Inc. increased its position in shares of Precision Drilling Corp. by 55.2% in the first quarter. Envestnet Asset Management Inc. now owns 55,576 shares of the company’s stock worth $233,000 after buying an additional 19,776 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in shares of Precision Drilling Corp. by 14.1% in the second quarter. Shell Asset Management Co. now owns 34,700 shares of the company’s stock worth $238,000 after buying an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

About Precision Drilling Corp.

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

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