Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Investment analysts at Cormark lowered their Q3 2017 earnings per share estimates for shares of Precision Drilling in a research report issued to clients and investors on Tuesday. Cormark analyst J. Zhang now expects that the company will post earnings of ($0.11) per share for the quarter, down from their prior forecast of ($0.08). Cormark also issued estimates for Precision Drilling’s Q4 2017 earnings at ($0.09) EPS, FY2017 earnings at ($0.39) EPS, Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at ($0.11) EPS and FY2018 earnings at ($0.09) EPS.
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A number of other research firms have also commented on PD. Scotiabank reaffirmed a “sector perform” rating and set a C$8.00 price objective on shares of Precision Drilling in a research note on Tuesday, April 25th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a C$7.40 price objective on shares of Precision Drilling in a research note on Tuesday, April 25th. Canaccord Genuity decreased their price objective on Precision Drilling from C$6.50 to C$4.75 in a research note on Tuesday, July 11th. BMO Capital Markets decreased their price objective on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, CIBC increased their price objective on Precision Drilling from C$8.00 to C$11.00 in a research note on Thursday, July 20th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$8.18.
Shares of Precision Drilling (TSE PD) opened at 3.68 on Thursday. The stock’s 50 day moving average is $4.11 and its 200 day moving average is $5.64. Precision Drilling has a 52-week low of $3.57 and a 52-week high of $8.21. The company’s market capitalization is $1.08 billion.
In other Precision Drilling news, Director Brian James Gibson bought 35,000 shares of Precision Drilling stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of C$3.58 per share, for a total transaction of C$125,300.00.
About Precision Drilling
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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