Precision Drilling Corporation (NYSE:PDS) (TSE:PD) – Equities researchers at Jefferies Group raised their FY2017 earnings per share (EPS) estimates for shares of Precision Drilling Corporation in a research report issued on Wednesday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings of ($0.30) per share for the year, up from their prior forecast of ($0.39). Jefferies Group has a “Buy” rating and a $4.50 price target on the stock. Jefferies Group also issued estimates for Precision Drilling Corporation’s Q4 2017 earnings at ($0.07) EPS, Q1 2018 earnings at ($0.05) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.23) EPS and FY2019 earnings at $0.27 EPS.

Other equities analysts also recently issued reports about the stock. TD Securities initiated coverage on shares of Precision Drilling Corporation in a report on Monday, September 11th. They set a “buy” rating for the company. Cowen and Company set a $5.00 price target on shares of Precision Drilling Corporation and gave the company a “buy” rating in a report on Wednesday, October 18th. Piper Jaffray Companies set a $4.00 price target on shares of Precision Drilling Corporation and gave the company a “buy” rating in a report on Sunday, October 29th. Zacks Investment Research raised shares of Precision Drilling Corporation from a “sell” rating to a “hold” rating in a report on Saturday, October 14th. Finally, Deutsche Bank AG initiated coverage on shares of Precision Drilling Corporation in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.04.

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Precision Drilling Corporation (PDS) opened at $3.15 on Friday. Precision Drilling Corporation has a 1-year low of $2.26 and a 1-year high of $6.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.22 and a quick ratio of 2.10.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. Precision Drilling Corporation had a negative net margin of 9.45% and a negative return on equity of 5.93%. The firm had revenue of $314.50 million during the quarter, compared to the consensus estimate of $320.36 million. During the same period last year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was up 47.2% on a year-over-year basis.

Large investors have recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Precision Drilling Corporation by 0.8% during the 1st quarter. Legal & General Group Plc now owns 455,424 shares of the oil and gas company’s stock worth $2,146,000 after buying an additional 3,566 shares during the period. Ameriprise Financial Inc. grew its position in shares of Precision Drilling Corporation by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 562,368 shares of the oil and gas company’s stock worth $1,918,000 after buying an additional 50,010 shares during the period. FMR LLC grew its position in shares of Precision Drilling Corporation by 22.1% during the 2nd quarter. FMR LLC now owns 16,603,054 shares of the oil and gas company’s stock worth $56,719,000 after buying an additional 3,007,124 shares during the period. Shell Asset Management Co. grew its position in shares of Precision Drilling Corporation by 123.1% during the 3rd quarter. Shell Asset Management Co. now owns 63,798 shares of the oil and gas company’s stock worth $771,000 after buying an additional 35,198 shares during the period. Finally, AGF Investments Inc. grew its position in shares of Precision Drilling Corporation by 13.4% during the 2nd quarter. AGF Investments Inc. now owns 1,537,291 shares of the oil and gas company’s stock worth $5,254,000 after buying an additional 181,654 shares during the period. Institutional investors own 59.60% of the company’s stock.

About Precision Drilling Corporation

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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

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