Precision Drilling (PDS) Set to Announce Earnings on Thursday

Precision Drilling (NYSE:PDS) (TSE:PD) will be posting its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Precision Drilling to post earnings of $2.11 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Tuesday, February 6th. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $1.36. The business had revenue of $372.34 million for the quarter, compared to analysts’ expectations of $355.78 million. Precision Drilling had a return on equity of 14.81% and a net margin of 14.87%. On average, analysts expect Precision Drilling to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Precision Drilling Trading Down 0.0 %

Shares of NYSE:PDS opened at $68.23 on Thursday. Precision Drilling has a 52-week low of $41.56 and a 52-week high of $77.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.40. The stock has a market capitalization of $987.97 million, a price-to-earnings ratio of 5.01 and a beta of 2.11. The stock’s 50-day simple moving average is $65.47 and its two-hundred day simple moving average is $60.27.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings in Precision Drilling by 177.6% in the 1st quarter. Citigroup Inc. now owns 3,548 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 2,270 shares in the last quarter. Barclays PLC lifted its holdings in Precision Drilling by 293.6% in the 2nd quarter. Barclays PLC now owns 3,542 shares of the oil and gas company’s stock worth $173,000 after purchasing an additional 2,642 shares in the last quarter. Legal & General Group Plc lifted its holdings in Precision Drilling by 212.4% in the 2nd quarter. Legal & General Group Plc now owns 2,655 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 1,805 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in Precision Drilling by 203.4% in the 4th quarter. State of Tennessee Treasury Department now owns 2,731 shares of the oil and gas company’s stock worth $148,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Precision Drilling by 85.1% in the 2nd quarter. Quantbot Technologies LP now owns 2,103 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 967 shares in the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price objective on Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $115.17.

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.