Jefferies Group Weighs in on Precision Drilling Corporation’s Q3 2017 Earnings (PDS)

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) – Stock analysts at Jefferies Group lowered their Q3 2017 earnings estimates for Precision Drilling Corporation in a research report issued on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings per share of ($0.12) for the quarter, down from their previous forecast of ($0.10). Jefferies Group has a “Buy” rating and a $4.50 price objective on the stock. Jefferies Group also issued estimates for Precision Drilling Corporation’s Q4 2017 earnings at ($0.11) EPS, FY2017 earnings at ($0.39) EPS, Q1 2018 earnings at ($0.08) EPS and FY2018 earnings at ($0.32) EPS.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.07. The business had revenue of $275.52 million for the quarter, compared to analysts’ expectations of $271.33 million. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The business’s revenue was up 68.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) earnings per share.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group Weighs in on Precision Drilling Corporation’s Q3 2017 Earnings (PDS)” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/19/jefferies-group-weighs-in-on-precision-drilling-corporations-q3-2017-earnings-pds.html.

Several other research firms have also commented on PDS. Piper Jaffray Companies lowered shares of Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $5.00 to $3.25 in a report on Thursday, June 29th. Morgan Stanley lowered shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. BidaskClub lowered shares of Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Precision Drilling Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Finally, Raymond James Financial, Inc. upgraded shares of Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.58.

Shares of Precision Drilling Corporation (NYSE PDS) opened at 2.53 on Wednesday. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The stock’s market cap is $741.89 million. The firm has a 50-day moving average of $2.80 and a 200-day moving average of $3.32.

Institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. grew its position in shares of Precision Drilling Corporation by 81.2% in the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock worth $112,000 after buying an additional 14,700 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Precision Drilling Corporation by 200.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 19,819 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Precision Drilling Corporation during the 2nd quarter worth approximately $158,000. Winch Advisory Services LLC grew its position in Precision Drilling Corporation by 38.4% during the 2nd quarter. Winch Advisory Services LLC now owns 72,782 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 20,176 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Precision Drilling Corporation by 140.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 53,083 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 30,964 shares during the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Corporation Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production com

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) – Stock analysts at Jefferies Group lowered their Q3 2017 earnings estimates for Precision Drilling Corporation in a research report issued on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings per share of ($0.12) for the quarter, down from their previous forecast of ($0.10). Jefferies Group has a “Buy” rating and a $4.50 price objective on the stock. Jefferies Group also issued estimates for Precision Drilling Corporation’s Q4 2017 earnings at ($0.11) EPS, FY2017 earnings at ($0.39) EPS, Q1 2018 earnings at ($0.08) EPS and FY2018 earnings at ($0.32) EPS.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.07. The business had revenue of $275.52 million for the quarter, compared to analysts’ expectations of $271.33 million. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The business’s revenue was up 68.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) earnings per share.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group Weighs in on Precision Drilling Corporation’s Q3 2017 Earnings (PDS)” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/19/jefferies-group-weighs-in-on-precision-drilling-corporations-q3-2017-earnings-pds.html.

Several other research firms have also commented on PDS. Piper Jaffray Companies lowered shares of Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $5.00 to $3.25 in a report on Thursday, June 29th. Morgan Stanley lowered shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. BidaskClub lowered shares of Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Precision Drilling Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Finally, Raymond James Financial, Inc. upgraded shares of Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.58.

Shares of Precision Drilling Corporation (NYSE PDS) opened at 2.53 on Wednesday. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The stock’s market cap is $741.89 million. The firm has a 50-day moving average of $2.80 and a 200-day moving average of $3.32.

Institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. grew its position in shares of Precision Drilling Corporation by 81.2% in the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock worth $112,000 after buying an additional 14,700 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Precision Drilling Corporation by 200.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 19,819 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Precision Drilling Corporation during the 2nd quarter worth approximately $158,000. Winch Advisory Services LLC grew its position in Precision Drilling Corporation by 38.4% during the 2nd quarter. Winch Advisory Services LLC now owns 72,782 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 20,176 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Precision Drilling Corporation by 140.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 53,083 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 30,964 shares during the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Corporation Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Earnings History and Estimates for Precision Drilling Corporation (NYSE:PDS)

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