Precision Drilling Corporation (NYSE:PDS) Announces Quarterly Earnings Results

The legal version of this piece of content can be accessed at Jefferies Group also issued estimates for Precision Drilling Corporation's Q3 2017 earnings at ($0.10) EPS, Q4 2017 earnings at ($0.10) EPS, FY2017 earnings at ($0.36) EPS, FY2018 earnings at ($0.28) EPS, FY2019 earnings at $0.36 EPS and FY2020 earnings at $1.00 EPS.

A number of brokerages have issued reports on PDS. Scotiabank reissued a "sector perform" rating and set a C$8.00 target price on shares of Precision Drilling in a research note on Tuesday, April 25th. Canaccord Genuity reduced their price target on shares of Precision Drilling from C$4.75 to C$4.25 in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. upgraded Precision Drilling Corporation from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 26th. Finally, Cowen and Company reiterated a "buy" rating and set a $5.00 price target on shares of Precision Drilling Corporation in a research note on Tuesday, July 11th.

7/6/2017 - Precision Drilling Corporation was upgraded by analysts at UBS AG from an "outperform" rating to a "strong-buy" rating. Current price places the company's stock 21.37% away from its 200-day simple moving average, -5.39%, away from the 50-day average and also -2.29% away from 20-day average. It last trading capacity has been watched at 2.02 million shares and 4.12 million shares are explored as seeing the average capacity of last three months trading period. The company's market cap is $870.92 million. The 50 day moving average was down $-0.14 and the 200 day average moved down $-1.18. Precision Drilling has a one year low of $3.57 and a one year high of $8.21.

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Precision Drilling Corporation (NYSE:PDS) (TSE:PD) previously issued its fiscal periodic earnings information on early Mon, Jul 31st. The oil and gas company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07, reports. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. During the same period past year, the firm posted ($0.20) earnings per share. For the current year the company's revenue estimates are $1.05 Billion compared to low analyst estimates of $1.01 Billion and high estimates of $1.1 Billion according to the prediction of 15 analysts.

7/19/2017 - Precision Drilling Corporation was downgraded by analysts at BidaskClub from a "sell" rating to a "strong sell" rating. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & worldwide copyright & trademark law.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Precision Drilling Corporation by 2.4% in the first quarter. Finally, Systematic Financial Management LP boosted its stake in Precision Drilling Corporation by 7.7% in the first quarter. Precision Drilling now has an average rating of Buy and an average price target of C$8.18. AQR Capital Management LLC bought a new stake in Precision Drilling Corporation during the fourth quarter worth approximately $223,000. 1,326,774 shares of the company were exchanged. Princeton Alpha Management LP increased its stake in shares of Precision Drilling Corporation by 18.3% in the first quarter. Cormark analyst J. Zhang anticipates that the oil and gas company will post earnings per share of ($0.09) for the quarter. Franklin Resources Inc. boosted its stake in Precision Drilling Corporation by 44.6% in the second quarter. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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