Precision Drilling (TSE:PD) Releases Earnings Results

Precision Drilling (TSE:PD) (NYSE:PDS) posted its quarterly earnings results on Wednesday. The company reported C($0.52) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$452.80 million during the quarter. Precision Drilling had a negative net margin of 0.82% and a negative return on equity of 0.94%.

Precision Drilling Price Performance

Shares of TSE:PD opened at C$102.90 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.36 and a debt-to-equity ratio of 45.24. The stock has a market cap of C$1.33 billion, a PE ratio of -98.94, a price-to-earnings-growth ratio of -3.24 and a beta of 0.42. The stock’s fifty day simple moving average is C$120.11 and its two-hundred day simple moving average is C$121.37. Precision Drilling has a 1-year low of C$72.87 and a 1-year high of C$143.81.

Analyst Ratings Changes

A number of research firms have weighed in on PD. Canadian Imperial Bank of Commerce raised their price objective on shares of Precision Drilling from C$150.00 to C$160.00 in a research note on Friday, May 1st. National Bank Financial boosted their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. ATB Cormark Capital Markets decreased their target price on shares of Precision Drilling from C$175.00 to C$165.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Raymond James Financial upped their target price on shares of Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, TD dropped their price target on shares of Precision Drilling from C$130.00 to C$124.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$150.25.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.