Precision Drilling (PD) Scheduled to Post Quarterly Earnings on Tuesday

Precision Drilling (TSE:PD) (NYSE:PDS) will be releasing its earnings data after the market closes on Tuesday, October 29th. Analysts expect Precision Drilling to post earnings of C$2.09 per share for the quarter.

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

Precision Drilling Trading Up 1.5 %

Shares of TSE:PD opened at C$81.77 on Friday. The company has a 50 day moving average of C$88.87 and a 200-day moving average of C$94.07. The firm has a market cap of C$1.15 billion, a P/E ratio of 5.10, a P/E/G ratio of -3.24 and a beta of 2.76. Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37.

Wall Street Analysts Forecast Growth

PD has been the subject of a number of research analyst reports. ATB Capital reduced their price target on shares of Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. BMO Capital Markets reduced their price target on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Raymond James reduced their price target on shares of Precision Drilling from C$143.00 to C$142.00 in a research note on Tuesday, October 15th. TD Securities cut their target price on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Finally, CIBC increased their target price 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$126.90.

Insider Activity

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

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.