PDS FY2026 EPS Forecast Reduced by Raymond James Financial

Key Points

• Raymond James Financial has lowered its FY2026 EPS forecast for Precision Drilling Corporation from $8.87 to $8.79, while maintaining an "Outperform" rating on the stock.
• The current consensus estimate for Precision Drilling’s full-year earnings stands at $7.10 per share.
• Precision Drilling's stock has experienced a 3.9% decline in trading, opening at $54.15, down from its 52-week high of $75.19.

Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD - Investment analysts at Raymond James Financial decreased their FY2026 earnings per share estimates for shares of Precision Drilling in a report issued on Wednesday, July 30th. Raymond James Financial analyst M. Barth now forecasts that the oil and gas company will post earnings per share of $8.79 for the year, down from their previous estimate of $8.87. Raymond James Financial has a "Outperform" rating on the stock. The consensus estimate for Precision Drilling's current full-year earnings is $7.10 per share. Raymond James Financial also issued estimates for Precision Drilling's FY2027 earnings at $9.89 EPS, FY2028 earnings at $9.86 EPS and FY2029 earnings at $11.21 EPS.

PDS has been the subject of a number of other reports. Piper Sandler assumed coverage on Precision Drilling in a research report on Tuesday, July 15th. They set an "overweight" rating and a $72.00 price target for the company. Royal Bank Of Canada upped their price objective on Precision Drilling from $89.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Precision Drilling presently has an average rating of "Moderate Buy" and a consensus price target of $86.00.

Precision Drilling Stock Performance

Shares of Precision Drilling stock traded down $0.60 during mid-day trading on Monday, hitting $54.15. 95,722 shares of the stock were exchanged, compared to its average volume of 118,390. Precision Drilling has a 12 month low of $36.20 and a 12 month high of $75.19. The company has a 50-day simple moving average of $49.85 and a 200 day simple moving average of $48.58. The company has a market capitalization of $719.71 million, a P/E ratio of 11.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.01.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.79. Precision Drilling had a net margin of 5.67% and a return on equity of 6.21%. The company had revenue of $299.14 million for the quarter, compared to analyst estimates of $435.47 million.

Institutional Trading of Precision Drilling

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Precision Drilling by 2.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company's stock worth $695,000 after purchasing an additional 250 shares in the last quarter. Geode Capital Management LLC grew its holdings in Precision Drilling by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company's stock valued at $450,000 after buying an additional 418 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of Precision Drilling by 2.9% during the first quarter. PCJ Investment Counsel Ltd. now owns 16,830 shares of the oil and gas company's stock valued at $783,000 after buying an additional 470 shares during the period. Vident Advisory LLC lifted its holdings in shares of Precision Drilling by 8.2% in the first quarter. Vident Advisory LLC now owns 6,766 shares of the oil and gas company's stock worth $315,000 after buying an additional 512 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Precision Drilling by 5.8% in the first quarter. Mackenzie Financial Corp now owns 9,752 shares of the oil and gas company's stock valued at $453,000 after acquiring an additional 533 shares during the period. 48.86% of the stock is owned by hedge funds and other 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.