Brokers Set Expectations for Precision Drilling Co.'s Q4 2024 Earnings (TSE:PD)

Precision Drilling Co. (TSE:PD - Free Report) NYSE: PDS - Atb Cap Markets cut their Q4 2024 earnings per share (EPS) estimates for shares of Precision Drilling in a report issued on Sunday, April 7th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $3.56 per share for the quarter, down from their previous estimate of $3.68. The consensus estimate for Precision Drilling's current full-year earnings is $8.78 per share.

Several other analysts have also commented on PD. CIBC lifted their price target on shares of Precision Drilling from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. Piper Sandler Companies reduced their price target on shares of Precision Drilling from C$107.00 to C$100.00 and set an "overweight" rating on the stock in a research report on Monday, January 8th. Stifel Nicolaus reduced their price target on shares of Precision Drilling from C$120.00 to C$115.00 and set a "buy" rating on the stock in a research report on Wednesday, February 7th. Raymond James reduced their price target on shares of Precision Drilling from C$137.00 to C$132.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, February 7th. Finally, TD Securities reduced their price target on shares of Precision Drilling from C$125.00 to C$115.00 and set a "buy" rating on the stock in a research report on Wednesday, February 7th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$124.00.

Precision Drilling Price Performance

PD traded up C$0.67 during trading on Wednesday, reaching C$103.17. The company's stock had a trading volume of 130,565 shares, compared to its average volume of 79,744. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97. The firm has a fifty day simple moving average of C$87.33 and a two-hundred day simple moving average of C$81.56. Precision Drilling has a 1 year low of C$56.42 and a 1 year high of C$104.90. The company has a market cap of C$1.49 billion, a price-to-earnings ratio of 5.28, a PEG ratio of -3.24 and a beta of 2.90.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last released its earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, topping analysts' consensus estimates of C$2.82 by C$1.88. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. The business had revenue of C$506.87 million for the quarter, compared to analyst estimates of C$476.00 million.

Insider Buying and Selling

In other Precision Drilling news, Director Carey Thomas Ford sold 3,756 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$233,472.96. In other news, Director Carey Thomas Ford sold 3,756 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$233,472.96. Also, Senior Officer Veronica H. Foley sold 1,763 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$109,711.49. Over the last quarter, insiders sold 21,373 shares of company stock worth $1,329,227. Corporate insiders own 1.32% of the company's stock.

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.