Raymond James Has Bearish Forecast for PDS FY2028 Earnings

Precision Drilling Co. (NYSE:PDS) (TSE:PD) – Analysts at Raymond James reduced their FY2028 earnings estimates for shares of Precision Drilling in a research note issued to investors on Thursday, February 13th. Raymond James analyst M. Barth now forecasts that the oil and gas company will earn $12.43 per share for the year, down from their prior estimate of $12.70. The consensus estimate for Precision Drilling’s current full-year earnings is $6.03 per share.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%.

Several other brokerages also recently issued reports on PDS. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Stock Performance

Shares of NYSE PDS opened at $54.90 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $756.45 million, a P/E ratio of 4.64 and a beta of 1.91. Precision Drilling has a 12 month low of $53.31 and a 12 month high of $79.07. The stock has a 50 day moving average of $60.32 and a 200-day moving average of $63.00.

Institutional Trading of Precision Drilling

A number of institutional investors have recently bought and sold shares of PDS. Geode Capital Management LLC grew its holdings in shares of Precision Drilling by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 424 shares in the last quarter. Franklin Resources Inc. increased its holdings in Precision Drilling by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock valued at $3,961,000 after buying an additional 11,331 shares during the period. National Bank of Canada FI raised its position in shares of Precision Drilling by 1.4% in the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock valued at $44,740,000 after buying an additional 10,318 shares in the last quarter. Signaturefd LLC boosted its position in shares of Precision Drilling by 19.9% during the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 276 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in Precision Drilling by 111.1% in the third quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock valued at $4,226,000 after acquiring an additional 36,100 shares during the last quarter. 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.