Q3 2024 Earnings Forecast for Precision Drilling Co. Issued By Atb Cap Markets (TSE:PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Equities researchers at Atb Cap Markets lowered their Q3 2024 earnings per share estimates for Precision Drilling in a research report issued on Thursday, June 27th. Atb Cap Markets analyst W. Syed now anticipates that the company will earn $2.53 per share for the quarter, down from their previous forecast of $2.78. The consensus estimate for Precision Drilling’s current full-year earnings is $9.27 per share. Atb Cap Markets also issued estimates for Precision Drilling’s Q3 2025 earnings at $3.84 EPS.

PD has been the topic of a number of other reports. Stifel Nicolaus increased their price target on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Raymond James increased their target price on Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. CIBC lifted their price target on Precision Drilling from C$110.00 to C$130.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, ATB Capital decreased their price objective on shares of Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$126.55.

Precision Drilling Stock Performance

TSE PD opened at C$95.67 on Monday. Precision Drilling has a 1-year low of C$61.81 and a 1-year high of C$104.90. The company has a 50 day moving average of C$95.75 and a 200-day moving average of C$87.74. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 62.02. The firm has a market cap of C$1.39 billion, a price-to-earnings ratio of 5.80, a PEG ratio of -3.24 and a beta of 2.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Thursday, April 25th. The company reported C$2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). The firm had revenue of C$527.79 million for the quarter, compared to analyst estimates of C$539.50 million. Precision Drilling had a return on equity of 15.46% and a net margin of 12.06%.

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.