FY2025 EPS Forecast for Precision Drilling Cut by Analyst

Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD - Investment analysts at Raymond James lowered their FY2025 EPS estimates for Precision Drilling in a research note issued on Tuesday, October 15th. Raymond James analyst M. Barth now forecasts that the oil and gas company will earn $12.82 per share for the year, down from their previous forecast of $13.45. The consensus estimate for Precision Drilling's current full-year earnings is $6.67 per share.

A number of other brokerages have also weighed in on PDS. StockNews.com upgraded Precision Drilling from a "hold" rating to a "buy" rating in a research note on Thursday, August 1st. Piper Sandler raised their price objective 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 Price Performance

PDS stock traded up $0.03 during midday trading on Friday, reaching $60.49. 60,715 shares of the company's stock traded hands, compared to its average volume of 58,408. The company has a 50-day simple moving average of $66.11 and a two-hundred day simple moving average of $69.05. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.52. Precision Drilling has a 1-year low of $49.67 and a 1-year high of $79.07. The company has a market cap of $850.49 million, a price-to-earnings ratio of 5.39 and a beta of 1.96.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share for the quarter, topping the consensus estimate of ($0.62) by $2.06. The company had revenue of $429.20 million during the quarter, compared to analyst estimates of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The company's revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share.

Hedge Funds Weigh In On Precision Drilling

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Precision Drilling by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,020 shares of the oil and gas company's stock valued at $844,000 after buying an additional 150 shares during the period. Signaturefd LLC boosted its position in shares of Precision Drilling by 32.6% in 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. Blue Trust Inc. grew its stake 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 purchasing an additional 504 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Precision Drilling by 14.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company's stock worth $300,000 after purchasing an additional 545 shares during the period. Finally, Swiss National Bank increased its holdings in Precision Drilling by 6.3% in the first quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company's stock valued at $1,923,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.

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.