Atb Cap Markets Issues Negative Outlook for TSE:PD Earnings

Precision Drilling Co. (TSE:PD - Free Report) NYSE: PDS - Atb Cap Markets reduced their FY2024 earnings estimates for shares of Precision Drilling in a note issued to investors on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $8.59 per share for the year, down from their prior forecast of $8.64. Atb Cap Markets also issued estimates for Precision Drilling's Q3 2026 earnings at $3.04 EPS and FY2027 earnings at $12.46 EPS.

A number of other brokerages have also recently commented on PD. TD Securities dropped their price target on Precision Drilling from C$140.00 to C$120.00 and set a "buy" rating on the stock in a research report on Tuesday, October 8th. Raymond James cut their price target on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. ATB Capital boosted their price objective on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday. Finally, BMO Capital Markets cut their target price on Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of C$127.11.

Precision Drilling Stock Down 1.5 %

Precision Drilling stock traded down C$1.31 during midday trading on Friday, hitting C$86.11. 36,388 shares of the stock were exchanged, compared to its average volume of 85,772. Precision Drilling has a 52-week low of C$68.92 and a 52-week high of C$109.20. The business's 50-day moving average price is C$86.19 and its 200-day moving average price is C$91.75. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37. The stock has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76.

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.