Precision Drilling Co. (NYSE:PDS) Forecasted to Post Q4 2024 Earnings of $2.61 Per Share

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Research analysts at Atb Cap Markets lowered their Q4 2024 EPS estimates for shares of Precision Drilling in a report released on Thursday, April 25th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings of $2.61 per share for the quarter, down from their previous forecast of $2.62. The consensus estimate for Precision Drilling’s current full-year earnings is $6.38 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q1 2025 earnings at $2.95 EPS, Q4 2025 earnings at $3.39 EPS, FY2025 earnings at $9.68 EPS and Q1 2026 earnings at $3.45 EPS.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.12). The business had revenue of $391.51 million during the quarter, compared to analyst estimates of $399.44 million. Precision Drilling had a return on equity of 10.44% and a net margin of 12.00%.

Several other brokerages have also recently issued reports on PDS. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler decreased their target price on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling currently has a consensus rating of “Moderate Buy” and an average target price of $115.17.

Precision Drilling Stock Performance

Shares of PDS opened at $72.30 on Monday. The firm’s 50 day moving average is $66.23 and its 200-day moving average is $60.62. The stock has a market capitalization of $1.05 billion, a P/E ratio of 6.35 and a beta of 2.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.30. Precision Drilling has a 12-month low of $41.56 and a 12-month high of $77.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ninepoint Partners LP acquired a new position in shares of Precision Drilling in the fourth quarter worth about $74,649,000. Acadian Asset Management LLC grew its position in Precision Drilling by 95.0% during the third quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock valued at $31,344,000 after purchasing an additional 227,077 shares in the last quarter. American Century Companies Inc. grew its position in Precision Drilling by 1,501.2% during the third quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company’s stock valued at $14,950,000 after purchasing an additional 209,182 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Precision Drilling by 172.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,400 shares of the oil and gas company’s stock valued at $12,623,000 after purchasing an additional 119,200 shares in the last quarter. Finally, NewGen Asset Management Ltd grew its position in Precision Drilling by 27.8% during the fourth quarter. NewGen Asset Management Ltd now owns 123,970 shares of the oil and gas company’s stock valued at $6,730,000 after purchasing an additional 27,000 shares in 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.