Raymond James Has Negative Outlook of PDS FY2025 Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Research analysts at Raymond James lowered their FY2025 EPS estimates for shares of Precision Drilling in a report released on Tuesday, October 15th. Raymond James analyst M. Barth now anticipates that the oil and gas company will post earnings of $12.82 per share for the year, down from their previous forecast of $13.45. The consensus estimate for Precision Drilling’s current full-year earnings is $6.67 per share.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share for the quarter, topping the consensus estimate of ($0.62) by $2.06. The business had revenue of $429.20 million for the quarter, compared to the consensus estimate of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share.

PDS has been the subject of a number of other reports. Piper Sandler lifted their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Precision Drilling Stock Performance

PDS stock opened at $60.49 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.39 and a current ratio of 1.51. The stock has a market cap of $850.49 million, a P/E ratio of 5.39 and a beta of 1.96. The firm has a 50 day simple moving average of $66.11 and a 200 day simple moving average of $69.05. Precision Drilling has a 52 week low of $49.67 and a 52 week high of $79.07.

Hedge Funds Weigh In On Precision Drilling

A number of institutional investors and hedge funds have recently bought and sold shares of PDS. National Bank of Canada FI increased its holdings in Precision Drilling by 29.0% in the 1st quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company’s stock valued at $50,886,000 after buying an additional 159,871 shares during the period. Aegis Financial Corp bought a new stake in Precision Drilling in the 1st quarter valued at $6,124,000. Hartree Partners LP increased its holdings in Precision Drilling by 113.3% in the 1st quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock valued at $5,384,000 after buying an additional 42,500 shares during the period. Dimensional Fund Advisors LP increased its holdings in Precision Drilling by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company’s stock valued at $14,182,000 after buying an additional 28,947 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Precision Drilling by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 86,114 shares of the oil and gas company’s stock valued at $4,700,000 after buying an additional 17,214 shares during the period. Institutional investors own 48.86% of the company’s stock.

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.