Precision Drilling (PD) to Release Earnings on Thursday

Precision Drilling (TSE:PD) (NYSE:PDS) is scheduled to issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of C$2.84 per share for the quarter.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.82 by C$1.88. The firm had revenue of C$506.87 million during the quarter, compared to analysts’ expectations of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%.

Precision Drilling Stock Down 0.3 %

Shares of Precision Drilling stock opened at C$94.03 on Thursday. The company has a market cap of C$1.36 billion, a P/E ratio of 4.81, a PEG ratio of -3.24 and a beta of 2.92. The company has a debt-to-equity ratio of 62.97, a quick ratio of 1.36 and a current ratio of 1.40. Precision Drilling has a one year low of C$56.42 and a one year high of C$104.90. The firm has a fifty day moving average of C$88.78 and a two-hundred day moving average of C$81.72.

Insider Activity

In other Precision Drilling news, Director Carey Thomas Ford sold 3,756 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$233,472.96. In other Precision Drilling news, Director Carey Thomas Ford sold 3,756 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$233,472.96. Also, Senior Officer Veronica H. Foley sold 1,763 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$109,711.49. Insiders sold 21,373 shares of company stock worth $1,329,227 in the last 90 days. 1.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PD. Evercore cut their price objective on shares of Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Piper Sandler Companies cut their price objective on shares of Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating for the company in a research report on Monday, January 8th. Royal Bank of Canada cut their price objective on shares of Precision Drilling from C$125.00 to C$122.00 in a research report on Friday, January 12th. Raymond James cut their price objective on shares of Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating for the company in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus cut their price objective on shares of Precision Drilling from C$120.00 to C$115.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$124.00.

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.