Precision Drilling (PD) to Release Earnings on Tuesday

Precision Drilling (TSE:PD) (NYSE:PDS) will release 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 data 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 company 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%.

Precision Drilling Stock Up 1.5 %

Shares of Precision Drilling stock opened at C$81.77 on Monday. The company has a market cap of C$1.15 billion, a price-to-earnings ratio of 5.10, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company’s 50 day moving average is C$88.87 and its 200 day moving average is C$94.09. Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37.

Insiders Place Their Bets

In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling 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 Precision Drilling stock in a transaction dated 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 Precision Drilling stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. Corporate insiders own 2.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets decreased their price target on shares of Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Royal Bank of Canada raised their price objective on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Raymond James decreased their price objective on shares of Precision Drilling from C$143.00 to C$142.00 in a research report on Tuesday, October 15th. TD Securities decreased their price objective on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Finally, ATB Capital decreased their price objective on shares of Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$126.90.

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.