Precision Drilling (TSE:PD) (NYSE:PDS) posted its quarterly earnings data on Thursday. The company reported C($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.08) by C($0.02), reports. The firm had revenue of C$382.46 million during the quarter, compared to analysts’ expectations of C$395.40 million. Precision Drilling had a negative net margin of 13.54% and a negative return on equity of 10.28%.
Shares of Precision Drilling stock traded up C$0.03 on Friday, reaching C$3.28. 2,220,000 shares of the company traded hands, compared to its average volume of 2,147,155. Precision Drilling has a 52 week low of C$2.97 and a 52 week high of C$5.33.
PD has been the subject of several analyst reports. TD Securities lowered shares of Precision Drilling from an “action list buy” rating to a “buy” rating and increased their price objective for the company from C$7.00 to C$7.50 in a research note on Wednesday, September 5th. Raymond James reduced their target price on shares of Precision Drilling from C$6.50 to C$5.75 in a research report on Monday, October 15th. GMP Securities increased their target price on shares of Precision Drilling from C$7.00 to C$7.50 in a research report on Tuesday, October 9th. Cormark increased their target price on shares of Precision Drilling from C$5.50 to C$6.00 in a research report on Friday, July 27th. Finally, CIBC reduced their target price on shares of Precision Drilling from C$7.00 to C$6.25 in a research report on Tuesday, October 16th.
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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