Precision Drilling Corp to Post Q3 2020 Earnings of $0.00 Per Share, Piper Jaffray Companies Forecasts (NYSE:PDS)

Precision Drilling Corp (NYSE:PDS) (TSE:PD) – Research analysts at Piper Jaffray Companies reduced their Q3 2020 earnings per share estimates for Precision Drilling in a report released on Tuesday, April 30th, Zacks Investment Research reports. Piper Jaffray Companies analyst J. Daniel now expects that the oil and gas company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.02. Piper Jaffray Companies also issued estimates for Precision Drilling’s Q4 2020 earnings at $0.02 EPS and FY2020 earnings at $0.01 EPS.

Several other research analysts also recently issued reports on the company. ValuEngine downgraded Precision Drilling from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BMO Capital Markets reaffirmed a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. Raymond James reaffirmed a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. National Bank Financial reaffirmed a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Finally, CIBC reaffirmed a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Precision Drilling currently has an average rating of “Buy” and a consensus target price of $3.92.

NYSE PDS traded down $0.07 during trading hours on Thursday, reaching $2.11. 841,000 shares of the company’s stock were exchanged, compared to its average volume of 1,210,024. The firm has a market cap of $640.44 million, a PE ratio of -8.12 and a beta of 2.27. Precision Drilling has a one year low of $1.62 and a one year high of $4.14. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.11 and a quick ratio of 1.99.

A number of large investors have recently bought and sold shares of PDS. Marshall Wace LLP acquired a new position in shares of Precision Drilling in the 1st quarter valued at $36,000. Millennium Management LLC acquired a new position in shares of Precision Drilling in the 4th quarter valued at $40,000. Hsbc Holdings PLC acquired a new position in shares of Precision Drilling in the 1st quarter valued at $46,000. Evergreen Capital Management LLC acquired a new position in shares of Precision Drilling in the 1st quarter valued at $54,000. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its stake in shares of Precision Drilling by 174.7% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 31,450 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 20,000 shares during the period. 46.18% of the stock is currently owned by hedge funds and other institutional investors.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Earnings History and Estimates for Precision Drilling (NYSE:PDS)

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