Precision Drilling (NYSE:PDS) Posts Quarterly Earnings Results, Beats Estimates By $2.06 EPS

Precision Drilling (NYSE:PDS) (TSE:PD) announced its earnings results on Tuesday. The oil and gas company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $2.06, Briefing.com reports. Precision Drilling had a return on equity of 9.37% and a net margin of 11.68%. The company had revenue of $429.20 million for the quarter, compared to analyst estimates of $310.13 million. During the same quarter last year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year.

Precision Drilling Price Performance

NYSE PDS traded down $2.11 on Thursday, hitting $74.74. 90,378 shares of the company’s stock were exchanged, compared to its average volume of 71,585. Precision Drilling has a 52 week low of $49.67 and a 52 week high of $79.07. The stock has a 50-day moving average of $70.30 and a 200-day moving average of $67.23. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 6.60 and a beta of 2.03.

Analyst Ratings Changes

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