Atb Cap Markets Has Negative Outlook of PDS FY2024 Earnings

Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD - Investment analysts at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for Precision Drilling in a note issued to investors on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings per share of $6.06 for the year, down from their prior estimate of $6.22. The consensus estimate for Precision Drilling's current full-year earnings is $6.37 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 upped their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd.

Precision Drilling Trading Down 0.3 %

NYSE PDS traded down $0.21 during trading hours on Thursday, reaching $61.33. The company's stock had a trading volume of 54,720 shares, compared to its average volume of 69,358. The firm has a fifty day simple moving average of $61.91 and a 200-day simple moving average of $66.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41. Precision Drilling has a 52 week low of $49.67 and a 52 week high of $79.07. The stock has a market cap of $862.73 million, a P/E ratio of 5.18 and a beta of 1.96.

Institutional Investors Weigh In On Precision Drilling

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Precision Drilling by 2,800.0% during the second quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 504 shares during the last quarter. US Bancorp DE increased its position in Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 218 shares during the period. Signaturefd LLC raised its holdings in Precision Drilling by 32.6% during the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company's stock worth $97,000 after purchasing an additional 340 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Precision Drilling in the 2nd quarter worth approximately $210,000. Finally, Barclays PLC boosted its stake in shares of Precision Drilling by 1,579.0% in the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company's stock valued at $207,000 after purchasing an additional 3,158 shares during the last quarter. Institutional investors own 48.86% of the company's stock.

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.