Jefferies Group Comments on Precision Drilling Co.’s FY2017 Earnings (PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Investment analysts at Jefferies Group upped their FY2017 EPS estimates for Precision Drilling in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now anticipates 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.

Several other brokerages also recently weighed in on PD. Raymond James Financial, Inc. reduced their price target on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating for the company in a report on Tuesday, August 22nd. Citigroup Inc. raised their price target on Precision Drilling from C$4.00 to C$4.25 in a report on Wednesday, November 1st. TD Securities restated a “buy” rating and set a C$6.00 price target on shares of Precision Drilling in a report on Tuesday, September 12th. BMO Capital Markets restated an “outperform” rating and set a C$6.00 price target on shares of Precision Drilling in a report on Monday, October 30th. Finally, Canaccord Genuity dropped their price objective on Precision Drilling from C$4.25 to C$3.75 in a research report on Monday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Precision Drilling presently has a consensus rating of “Hold” and a consensus target price of C$6.23.

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Shares of Precision Drilling (PD) traded up C$0.04 during trading hours on Friday, hitting C$3.47. The stock had a trading volume of 1,290,000 shares, compared to its average volume of 2,480,000. Precision Drilling has a 1 year low of C$2.89 and a 1 year high of C$8.21.

In related news, Director Kevin A. Neveu acquired 10,000 shares of the stock in a transaction dated Monday, August 28th. The shares were purchased at an average cost 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.

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

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