FY2017 Earnings Estimate for Precision Drilling Co. (PD) Issued By Jefferies Group

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for shares of Precision Drilling in a report released on Wednesday. Jefferies Group analyst B. Handler now expects that the company will post earnings per share of ($0.38) for the year, up from their prior forecast 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.

PD has been the topic of several other reports. Deutsche Bank AG restated a “hold” rating and set a C$4.00 price objective on shares of Precision Drilling in a report on Tuesday, October 10th. CIBC raised their price objective on Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th. BMO Capital Markets reduced their price objective on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Royal Bank Of Canada reduced their price objective on Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a report on Friday, October 6th. Finally, Canaccord Genuity reduced their price objective on Precision Drilling from C$4.75 to C$4.25 in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of C$6.25.

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Shares of Precision Drilling (TSE:PD) traded up C$0.06 on Friday, hitting C$4.03. 1,329,092 shares of the stock traded hands, compared to its average volume of 1,919,712. Precision Drilling has a 52 week low of C$2.89 and a 52 week high of C$8.21.

In other news, Director Kevin A. Neveu purchased 10,000 shares of the stock in a transaction on Monday, August 28th. The stock was bought at an average price of C$3.13 per share, with a total value 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.

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

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