Precision Drilling (TSE:PD) Announces Earnings Results

Precision Drilling (TSE:PD) (NYSE:PDS) posted its quarterly earnings data on Thursday. The company reported C$1.34 earnings per share for the quarter, FiscalAI reports. Precision Drilling had a net margin of 0.10% and a return on equity of 0.11%. The business had revenue of C$526.05 million for the quarter.

Precision Drilling Stock Down 9.5%

Shares of TSE:PD opened at C$126.70 on Friday. The business’s 50 day moving average is C$127.45 and its 200 day moving average is C$106.26. The stock has a market cap of C$1.64 billion, a P/E ratio of 905.00, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. Precision Drilling has a 52-week low of C$54.73 and a 52-week high of C$143.81. The company has a quick ratio of 1.36, a current ratio of 1.62 and a debt-to-equity ratio of 49.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank Of Canada upped their target price on Precision Drilling from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. TD Securities upped their target price on Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Raymond James Financial upped their target price on Precision Drilling from C$143.00 to C$158.00 in a research note on Monday, March 30th. ATB Cormark Capital Markets upped their target price on Precision Drilling from C$135.00 to C$160.00 and gave the company an “outperform” rating in a research note on Monday, March 23rd. Finally, Canadian Imperial Bank of Commerce upped their target price on Precision Drilling from C$140.00 to C$150.00 in a research note on Tuesday, March 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$146.63.

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.