Jefferies Financial Group Comments on Precision Drilling Corp’s FY2018 Earnings (PD)

Precision Drilling Corp (TSE:PD) (NYSE:PDS) – Equities researchers at Jefferies Financial Group decreased their FY2018 earnings per share estimates for shares of Precision Drilling in a report released on Monday, October 29th. Jefferies Financial Group analyst B. Handler now expects that the company will earn ($0.38) per share for the year, down from their previous forecast of ($0.32). Jefferies Financial Group also issued estimates for Precision Drilling’s Q4 2018 earnings at ($0.06) EPS, Q2 2019 earnings at ($0.08) EPS, FY2019 earnings at $0.00 EPS and FY2020 earnings at $0.45 EPS.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Thursday, October 25th. The company reported C($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.08) by C($0.02). The company had revenue of C$382.46 million for the quarter, compared to the consensus estimate of C$395.40 million. Precision Drilling had a negative net margin of 13.54% and a negative return on equity of 10.28%.



Several other equities research analysts have also recently weighed in on PD. Raymond James boosted their price target on shares of Precision Drilling from C$5.75 to C$7.25 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 10th. Canaccord Genuity boosted their price target on shares of Precision Drilling from C$5.00 to C$5.25 in a research report on Tuesday, July 10th. Cormark boosted their price target on shares of Precision Drilling from C$5.50 to C$6.00 in a research report on Friday, July 27th. TD Securities cut shares of Precision Drilling from an “action list buy” rating to a “buy” rating and boosted their price target for the stock from C$7.00 to C$7.50 in a research report on Wednesday, September 5th. Finally, GMP Securities boosted their price target on shares of Precision Drilling from C$7.00 to C$7.50 in a research report on Tuesday, October 9th.

Shares of PD opened at C$3.20 on Wednesday. Precision Drilling has a fifty-two week low of C$3.03 and a fifty-two week high of C$5.33.

About Precision Drilling

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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Earnings History and Estimates for Precision Drilling (TSE:PD)

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