Precision Drilling (PDS) Set to Announce Earnings on Thursday

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD will post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Precision Drilling to post earnings of $2.11 per share for the quarter. Parties that are interested in registering for the company's conference call can do so using this link.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $2.09 by $1.36. Precision Drilling had a return on equity of 14.81% and a net margin of 14.87%. The company had revenue of $372.34 million for the quarter, compared to analyst estimates of $355.78 million. On average, analysts expect Precision Drilling to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Precision Drilling Price Performance

PDS traded down $0.90 during trading on Thursday, hitting $67.33. The company's stock had a trading volume of 48,707 shares, compared to its average volume of 83,584. The company has a current ratio of 1.40, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Precision Drilling has a twelve month low of $41.56 and a twelve month high of $77.21. The business's fifty day simple moving average is $65.47 and its 200 day simple moving average is $60.27. The firm has a market capitalization of $974.94 million, a price-to-earnings ratio of 5.01 and a beta of 2.11.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price objective on Precision Drilling from $100.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Precision Drilling currently has a consensus rating of "Buy" and an average price target of $115.17.

Hedge Funds Weigh In On Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in PDS. Bank of America Corp DE lifted its position in Precision Drilling by 160.3% during the first quarter. Bank of America Corp DE now owns 235,475 shares of the oil and gas company's stock worth $12,108,000 after buying an additional 145,027 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Precision Drilling by 144.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,797 shares of the oil and gas company's stock worth $16,527,000 after acquiring an additional 127,691 shares during the last quarter. Millennium Management LLC increased its stake in Precision Drilling by 133.3% during the fourth quarter. Millennium Management LLC now owns 206,164 shares of the oil and gas company's stock worth $15,804,000 after acquiring an additional 117,795 shares during the last quarter. Quadrature Capital Ltd increased its stake in Precision Drilling by 63.1% during the second quarter. Quadrature Capital Ltd now owns 224,600 shares of the oil and gas company's stock worth $10,947,000 after acquiring an additional 86,900 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in Precision Drilling during the first quarter worth $3,515,000. Hedge funds and other institutional investors 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.