Raymond James Has Pessimistic Outlook of PDS FY2026 Earnings

Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD - Equities research analysts at Raymond James cut their FY2026 earnings estimates for Precision Drilling in a research report issued to clients and investors on Wednesday, October 30th. Raymond James analyst M. Barth now anticipates that the oil and gas company will earn $14.03 per share for the year, down from their previous forecast of $14.39. The consensus estimate for Precision Drilling's current full-year earnings is $6.37 per share. Raymond James also issued estimates for Precision Drilling's FY2027 earnings at $10.92 EPS.

A number of other brokerages have also recently weighed in on PDS. Piper Sandler raised their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. StockNews.com upgraded Precision Drilling from a "hold" rating to a "buy" rating in a research report on Thursday, August 1st.

Precision Drilling Price Performance

Shares of NYSE:PDS traded up $2.09 during trading hours on Monday, hitting $61.34. 66,455 shares of the company's stock traded hands, compared to its average volume of 67,933. The company's fifty day simple moving average is $63.93 and its two-hundred day simple moving average is $68.01. The company has a market cap of $862.44 million, a price-to-earnings ratio of 5.19 and a beta of 1.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 1.54. Precision Drilling has a 52 week low of $49.67 and a 52 week high of $79.07.

Institutional Trading of Precision Drilling

A number of hedge funds have recently bought and sold shares of PDS. Blue Trust Inc. lifted its position in shares of Precision Drilling by 2,800.0% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 504 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Precision Drilling by 56.6% in the third 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 in the last quarter. Signaturefd LLC boosted its position in shares of Precision Drilling by 32.6% in the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company's stock worth $97,000 after buying an additional 340 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Precision Drilling during the second quarter valued at $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 valued at $300,000 after buying an additional 545 shares during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

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.