Equities analysts expect that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will report earnings of ($0.04) per share for the current quarter, according to Zacks. Five analysts have issued estimates for Precision Drilling’s earnings. The lowest EPS estimate is ($0.05) and the highest is ($0.03). Precision Drilling posted earnings per share of ($0.06) during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 21st.

On average, analysts expect that Precision Drilling will report full-year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.37) to ($0.28). For the next financial year, analysts expect that the company will report earnings of $0.00 per share, with EPS estimates ranging from ($0.04) to $0.06. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Thursday, October 25th. The oil and gas company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). Precision Drilling had a negative net margin of 9.77% and a negative return on equity of 6.59%. The company had revenue of $292.65 million for the quarter, compared to the consensus estimate of $306.54 million.

Several research firms have weighed in on PDS. TD Securities lowered Precision Drilling to a “buy” rating in a report on Wednesday, September 5th. Piper Jaffray Companies set a $6.00 target price on Precision Drilling and gave the company a “buy” rating in a report on Wednesday, October 3rd. Zacks Investment Research lowered Precision Drilling from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Canaccord Genuity restated a “hold” rating on shares of Precision Drilling in a report on Tuesday, October 16th. Finally, Scotiabank lowered Precision Drilling from a “sector perform” rating to an “underperform” rating in a report on Thursday, November 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.40.

NYSE PDS traded up $0.01 during trading on Friday, hitting $2.11. 993,400 shares of the company traded hands, compared to its average volume of 1,913,798. Precision Drilling has a 12 month low of $2.03 and a 12 month high of $4.14. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.85 and a quick ratio of 1.73. The firm has a market cap of $637.51 million, a P/E ratio of -7.54 and a beta of 2.15.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Precision Drilling by 138.1% in the second quarter. Bank of New York Mellon Corp now owns 35,916 shares of the oil and gas company’s stock valued at $119,000 after purchasing an additional 20,833 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Precision Drilling in the third quarter valued at about $128,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Precision Drilling by 112.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 59,537 shares of the oil and gas company’s stock valued at $197,000 after purchasing an additional 31,461 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Precision Drilling in the second quarter valued at about $202,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Precision Drilling by 2,089.7% in the second quarter. Canada Pension Plan Investment Board now owns 207,894 shares of the oil and gas company’s stock valued at $687,000 after purchasing an additional 198,400 shares during the last quarter. 48.68% of the stock is currently owned by institutional investors.

About Precision Drilling

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

Further Reading: Stock Selection – What is cash flow?

Get a free copy of the Zacks research report on Precision Drilling (PDS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Precision Drilling (NYSE:PDS)

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.