Precision Drilling (NYSE:PDS) Issues Earnings Results

Precision Drilling (NYSE:PDS) (TSE:PD) posted its earnings results on Tuesday. The oil and gas company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $2.06, Briefing.com reports. The business had revenue of $429.20 million during the quarter, compared to analyst estimates of $310.13 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS.

Precision Drilling Trading Up 6.8 %

Shares of PDS traded up $4.87 during mid-day trading on Wednesday, hitting $76.85. 286,990 shares of the company’s stock traded hands, compared to its average volume of 71,457. The company has a quick ratio of 1.59, a current ratio of 1.71 and a debt-to-equity ratio of 0.57. Precision Drilling has a 1 year low of $49.67 and a 1 year high of $79.07. The firm has a market capitalization of $1.09 billion, a P/E ratio of 6.75 and a beta of 2.03. The business’s 50-day moving average price is $70.30 and its 200-day moving average price is $67.23.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PDS shares. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Piper Sandler dropped their target price on Precision Drilling from $101.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.50.

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.