Analysts Anticipate Precision Drilling Corp (PDS) Will Post Quarterly Sales of $309.42 Million

Analysts forecast that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will post sales of $309.42 million for the current quarter, according to Zacks. Six analysts have issued estimates for Precision Drilling’s earnings, with the lowest sales estimate coming in at $292.50 million and the highest estimate coming in at $335.24 million. Precision Drilling posted sales of $317.32 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings results on Thursday, April 25th.

On average, analysts expect that Precision Drilling will report full-year sales of $1.20 billion for the current year, with estimates ranging from $1.17 billion to $1.27 billion. For the next fiscal year, analysts expect that the business will post sales of $1.34 billion, with estimates ranging from $1.22 billion to $1.41 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Precision Drilling.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Precision Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. CIBC reissued a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Raymond James reaffirmed a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Jefferies Financial Group downgraded Precision Drilling from a “buy” rating to a “hold” rating and reduced their target price for the stock from $3.00 to $2.60 in a report on Friday, March 15th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Precision Drilling in a report on Friday, February 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.92.

NYSE:PDS traded up $0.03 on Wednesday, hitting $2.39. 797,422 shares of the stock were exchanged, compared to its average volume of 967,348. The firm has a market capitalization of $693.32 million, a PE ratio of -9.19 and a beta of 2.29. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.85 and a quick ratio of 1.73. Precision Drilling has a fifty-two week low of $1.62 and a fifty-two week high of $4.14.

Several hedge funds have recently modified their holdings of PDS. Vanguard Group Inc boosted its holdings in shares of Precision Drilling by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 7,265,717 shares of the oil and gas company’s stock worth $25,139,000 after acquiring an additional 220,935 shares in the last quarter. Legal & General Group Plc grew its holdings in Precision Drilling by 6.4% in the 3rd quarter. Legal & General Group Plc now owns 327,561 shares of the oil and gas company’s stock worth $1,131,000 after acquiring an additional 19,746 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Precision Drilling by 20.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 250,494 shares of the oil and gas company’s stock worth $864,000 after acquiring an additional 42,600 shares during the last quarter. AGF Investments Inc. grew its holdings in Precision Drilling by 18.1% in the 4th quarter. AGF Investments Inc. now owns 5,796,991 shares of the oil and gas company’s stock worth $10,064,000 after acquiring an additional 886,800 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in Precision Drilling by 5.2% in the 4th quarter. TD Asset Management Inc. now owns 1,252,487 shares of the oil and gas company’s stock worth $2,173,000 after acquiring an additional 61,601 shares during the last quarter. Institutional investors own 47.67% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Earnings History and Estimates for Precision Drilling (NYSE:PDS)

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