What is Atb Cap Markets’ Estimate for PDS FY2024 Earnings?

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Equities researchers at Atb Cap Markets decreased their FY2024 earnings per share estimates for shares of Precision Drilling in a report released on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $6.06 per share for the year, down from their previous forecast of $6.22. The consensus estimate for Precision Drilling’s current full-year earnings is $6.37 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q4 2024 earnings at $1.40 EPS, Q1 2025 earnings at $1.91 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $1.75 EPS, Q4 2025 earnings at $2.08 EPS, FY2025 earnings at $6.30 EPS, Q1 2026 earnings at $2.29 EPS, Q2 2026 earnings at $0.88 EPS, Q3 2026 earnings at $2.15 EPS and FY2026 earnings at $7.81 EPS.

Separately, Piper Sandler lifted their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd.

Precision Drilling Stock Performance

NYSE PDS opened at $61.33 on Thursday. The stock has a market cap of $862.73 million, a PE ratio of 5.18 and a beta of 1.96. Precision Drilling has a twelve month low of $49.67 and a twelve month high of $79.07. The stock has a fifty day simple moving average of $61.91 and a 200-day simple moving average of $66.48. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47.

Hedge Funds Weigh In On Precision Drilling

Several large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI increased its position in Precision Drilling by 1.4% during the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock worth $44,740,000 after purchasing an additional 10,318 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Precision Drilling by 16.8% during 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. American Century Companies Inc. lifted its position in Precision Drilling by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 99,979 shares of the oil and gas company’s stock worth $7,030,000 after acquiring an additional 7,436 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Precision Drilling by 111.1% during the third quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock valued at $4,226,000 after purchasing an additional 36,100 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Precision Drilling by 21.9% in the third quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock valued at $3,961,000 after purchasing an additional 11,331 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

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.