Brokers Issue Forecasts for Precision Drilling Co.’s Q3 2024 Earnings (TSE:PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for Precision Drilling in a report released on Thursday, June 27th. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $2.53 per share for the quarter, down from their previous forecast of $2.78. The consensus estimate for Precision Drilling’s current full-year earnings is $9.27 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q3 2025 earnings at $3.84 EPS.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Thursday, April 25th. The company reported C$2.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). The business had revenue of C$527.79 million during the quarter, compared to analysts’ expectations of C$539.50 million. Precision Drilling had a net margin of 12.06% and a return on equity of 15.46%.

Several other research analysts also recently issued reports on PD. CIBC lifted their price target on Precision Drilling from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Raymond James increased their price target on shares of Precision Drilling from C$132.00 to C$136.00 and gave the company a “strong-buy” rating in a research report on Friday, April 26th. Stifel Nicolaus raised their price objective on shares of Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, ATB Capital reduced their target price on Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$126.55.

Precision Drilling Stock Down 0.6 %

PD stock opened at C$95.67 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 62.02. The company’s 50-day moving average price is C$95.75 and its 200 day moving average price is C$87.74. Precision Drilling has a 52 week low of C$61.81 and a 52 week high of C$104.90. The company has a market cap of C$1.39 billion, a P/E ratio of 5.80, a P/E/G ratio of -3.24 and a beta of 2.90.

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.