Atb Cap Markets Has Negative Outlook of PDS FY2024 Earnings

Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD - Research analysts at Atb Cap Markets reduced their FY2024 earnings per share estimates for Precision Drilling in a report released on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will earn $6.22 per share for the year, down from their previous forecast of $6.39. The consensus estimate for Precision Drilling's current full-year earnings is $6.57 per share. Atb Cap Markets also issued estimates for Precision Drilling's Q2 2025 earnings at $0.61 EPS and Q4 2025 earnings at $2.33 EPS.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of ($0.62) by $2.06. The business had revenue of $429.20 million during the quarter, compared to the consensus estimate of $310.13 million. Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com upgraded Precision Drilling from a "hold" rating to a "buy" rating in a research note on Thursday, August 1st. Piper Sandler boosted their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd.

Precision Drilling Stock Performance

Shares of NYSE:PDS traded down $0.80 during trading on Friday, hitting $59.25. 65,447 shares of the company traded hands, compared to its average volume of 67,746. The stock has a market capitalization of $833.35 million, a price-to-earnings ratio of 5.10 and a beta of 1.96. The business's fifty day moving average is $64.19 and its 200-day moving average is $68.08. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. Precision Drilling has a one year low of $49.67 and a one year high of $79.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI increased its position in shares of Precision Drilling by 29.0% during the 1st quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company's stock valued at $50,886,000 after purchasing an additional 159,871 shares during the period. Aegis Financial Corp bought a new position in Precision Drilling during the first quarter valued at about $6,124,000. Hartree Partners LP grew its holdings in Precision Drilling by 113.3% during the first quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company's stock worth $5,384,000 after acquiring an additional 42,500 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Precision Drilling by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company's stock valued at $14,182,000 after acquiring an additional 28,947 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Precision Drilling by 31.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company's stock valued at $4,073,000 after acquiring an additional 13,749 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors.

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.