Cormark Equities Analysts Raise Earnings Estimates for Precision Drilling Co. (PD)

Lloyd Doyle
November 18, 2017

Shares of Precision Drilling (TSE:PD) traded up C$0.04 during midday trading on Monday, reaching C$3.47. PDS's value Change from Open was at -2.19% with a Gap of -0.36%. The stock had previously closed at C$4.00.

Several other analysts have also commented on PD.

Precision Drilling Corp (NYSE:PDS) has average revenue estimates of $263.42 Million, compared to low analyst estimates of $248.28 Million and high estimates of $291.63 Million for the current quarter.

Wall Street analysts are predicting that Precision Drilling Corp (NYSE:PDS) will report earnings per share of $-0.07 in their quarterly report. Finally, I.G. Investment Management LTD. raised its stake in shares of Precision Drilling 57.9% in the second quarter. The company had a trading volume of 1,287,421 shares, compared to its average volume of 1,930,029. I.G. Investment Management LTD. now owns 1,990,500 shares of the company's stock valued at $10,555,000 after buying an additional 730,100 shares in the last quarter.

While having a peek at profitability ratios Precision Drilling Corp (NYSE:PDS) has trailing twelve month gross margin at 30.1%, its trailing twelve month operating margin stands at -6.5% whereas its trailing twelve month net profit margin spots at -8.6%. The average numbers of shares are traded in a security per day, during the recent 3-month period. The company's market cap is $1.61 billion.

Shares of Precision Drilling Corp (NYSE:PDS) now have an Average Brokerage Recommendation of 1.83, number of Recs in ABR is 11 while industry rank of the company by ABR is 168 out of 265. The stock's 50-day moving average is $4.62 and its 200 day moving average is $4.57. Precision Drilling Corp (NYSE:PDS)'s price to free cash flow for trailing twelve months is 31.19.

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A number of equities analysts recently issued reports on the company. Canaccord Genuity reaffirmed a "hold" rating and set a $7.25 target price (up from $6.75) on shares of Precision Drilling a research report on Monday, October 24th. Deutsche Bank AG reiterated a "hold" rating and issued a C$4.00 target price on shares of Precision Drilling in a report on Tuesday, October 10th. Royal Bank Of Canada dropped their target price on Precision Drilling from C$7.00 to C$6.00 and set an "outperform" rating on the stock in a report on Friday, October 6th. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal.

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain global locations. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry.

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