FY2024 Earnings Estimate for TSE:PD Issued By Raymond James

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Equities research analysts at Raymond James lowered their FY2024 EPS estimates for shares of Precision Drilling in a report released on Tuesday, October 15th. Raymond James analyst M. Barth now expects that the company will post earnings per share of $9.12 for the year, down from their prior forecast of $9.65. Raymond James also issued estimates for Precision Drilling’s FY2026 earnings at $19.45 EPS.

Several other brokerages also recently commented on PD. ATB Capital dropped their target price on shares of Precision Drilling from C$123.00 to C$113.00 in a report on Monday, September 23rd. CIBC lifted their price target on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Securities cut their price target on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their price target on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets cut their price target on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$126.90.

Precision Drilling Stock Performance

Shares of TSE:PD opened at C$83.47 on Thursday. The company has a market capitalization of C$1.18 billion, a price-to-earnings ratio of 5.21, a P/E/G ratio of -3.24 and a beta of 2.76. The firm’s 50 day simple moving average is C$90.42 and its 200 day simple moving average is C$94.46. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. Precision Drilling has a fifty-two week low of C$67.46 and a fifty-two week high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.85) by C$2.29. The business had revenue of C$429.21 million for the quarter, compared to the consensus estimate of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%.

Insider Transactions at Precision Drilling

In other news, Director David Williams sold 3,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. In related news, Director David Williams sold 3,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% of the stock is currently owned by insiders.

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.