Brokers Issue Forecasts for Precision Drilling Co.’s FY2017 Earnings (PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Analysts at Jefferies Group upped their FY2017 earnings estimates for shares of Precision Drilling in a note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now expects that the company will earn ($0.38) per share for the year, up from their previous estimate of ($0.49). Jefferies Group also issued estimates for Precision Drilling’s Q4 2017 earnings at ($0.09) EPS, Q1 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.07) EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.30) EPS and FY2019 earnings at $0.35 EPS.

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Several other analysts have also recently issued reports on PD. CIBC lowered their price objective on shares of Precision Drilling from C$8.00 to C$7.00 in a research note on Friday, October 20th. Citigroup Inc. lowered their price objective on shares of Precision Drilling from C$4.25 to C$4.00 in a research note on Friday. Canaccord Genuity lowered their price objective on shares of Precision Drilling from C$4.25 to C$3.75 in a research note on Monday, October 30th. TD Securities reissued a “buy” rating and set a C$6.00 price objective on shares of Precision Drilling in a research note on Tuesday, September 12th. Finally, Deutsche Bank AG restated a “hold” rating and set a C$4.00 target price on shares of Precision Drilling in a report on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of C$6.23.

Shares of Precision Drilling (TSE PD) opened at C$3.39 on Friday. Precision Drilling has a 12 month low of C$2.89 and a 12 month high of C$8.21.

In other news, Director Kevin A. Neveu acquired 10,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were purchased at an average price of C$3.13 per share, for a total transaction of C$31,300.00.

About Precision Drilling

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.

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

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