Atb Cap Markets Has Negative Outlook of PDS FY2024 Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Atb Cap Markets cut their FY2024 earnings per share (EPS) estimates for shares of Precision Drilling in a report issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings of $6.06 per share for the year, down from their previous estimate of $6.22. The consensus estimate for Precision Drilling’s current full-year earnings is $6.29 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 objective on Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd.

Precision Drilling Trading Down 1.6 %

PDS stock opened at $60.35 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. Precision Drilling has a 12-month low of $51.53 and a 12-month high of $79.07. The stock has a market cap of $849.12 million, a price-to-earnings ratio of 5.10 and a beta of 1.96. The business’s 50-day moving average is $61.82 and its 200 day moving average is $66.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in shares of Precision Drilling during the 2nd quarter worth approximately $210,000. Point72 Asset Management L.P. boosted its holdings in shares of Precision Drilling by 31.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock worth $4,073,000 after purchasing an additional 13,749 shares during the last quarter. Nicola Wealth Management LTD. boosted its holdings in shares of Precision Drilling by 75.0% during the 2nd quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 12,000 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of 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 during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Precision Drilling by 19.9% during the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 276 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Company Profile

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.