Precision Drilling Corp (TSE:PD) (NYSE:PDS) – Equities research analysts at Piper Jaffray Companies cut their Q4 2020 earnings per share (EPS) estimates for Precision Drilling in a report released on Tuesday, January 8th. Piper Jaffray Companies analyst J. Daniel now forecasts that the company will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.11.
PD has been the subject of a number of other reports. BMO Capital Markets restated an “outperform” rating and set a C$4.00 price objective on shares of Precision Drilling in a research note on Tuesday, December 11th. Cormark restated a “buy” rating and set a C$6.75 price objective on shares of Precision Drilling in a research note on Friday, November 16th. Canaccord Genuity upgraded Precision Drilling from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. Citigroup upgraded Precision Drilling from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$3.50 to C$5.00 in a research note on Monday, November 19th. Finally, TD Securities lowered their price objective on Precision Drilling from C$7.50 to C$6.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of C$5.31.
Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, October 25th. The company reported C($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.08) by C($0.02). The firm had revenue of C$382.46 million during the quarter, compared to analyst estimates of C$395.40 million.
In other Precision Drilling news, Director Brian James Gibson purchased 40,000 shares of Precision Drilling stock in a transaction on Tuesday, December 11th. The stock was bought at an average price of C$2.64 per share, for a total transaction of C$105,600.00. Also, Director Wane Jacob Stickland purchased 10,000 shares of Precision Drilling stock in a transaction on Wednesday, October 31st. The shares were acquired at an average price of C$3.17 per share, with a total value of C$31,700.00. Over the last 90 days, insiders have purchased 82,000 shares of company stock valued at $219,700.
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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