Brokerages predict that Precision Drilling Corp (NYSE:PDS) (TSE:PD) will post sales of $306.85 million for the current quarter, Zacks reports. Four analysts have provided estimates for Precision Drilling’s earnings, with the highest sales estimate coming in at $313.62 million and the lowest estimate coming in at $288.04 million. Precision Drilling posted sales of $273.35 million during the same quarter last year, which suggests a positive year over year growth rate of 12.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Precision Drilling will report full-year sales of $1.16 billion for the current year, with estimates ranging from $1.13 billion to $1.17 billion. For the next year, analysts forecast that the firm will post sales of $1.34 billion, with estimates ranging from $1.33 billion to $1.36 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Precision Drilling.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The company had revenue of $292.65 million for the quarter, compared to analyst estimates of $306.54 million. Precision Drilling had a negative return on equity of 6.59% and a negative net margin of 9.77%.

A number of research firms recently issued reports on PDS. TD Securities cut shares of Precision Drilling to a “buy” rating in a research report on Wednesday, September 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Precision Drilling in a research note on Tuesday, July 31st. Jefferies Financial Group set a $5.00 target price on shares of Precision Drilling and gave the stock a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Credit Suisse Group upped their price objective on shares of Precision Drilling from $3.80 to $3.90 and gave the stock a “neutral” rating in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $4.40.

PDS stock traded up $0.05 during trading on Friday, reaching $2.45. 1,674,000 shares of the company were exchanged, compared to its average volume of 1,956,328. The stock has a market cap of $719.76 million, a price-to-earnings ratio of -8.75 and a beta of 2.10. Precision Drilling has a twelve month low of $2.31 and a twelve month high of $4.14. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.85 and a quick ratio of 1.73.

A number of institutional investors and hedge funds have recently bought and sold shares of PDS. JPMorgan Chase & Co. grew its position in Precision Drilling by 1,439.4% during the first quarter. JPMorgan Chase & Co. now owns 159,621 shares of the oil and gas company’s stock valued at $443,000 after buying an additional 149,252 shares during the period. Millennium Management LLC bought a new position in Precision Drilling during the first quarter valued at about $3,062,000. Acadian Asset Management LLC grew its position in Precision Drilling by 140.9% during the second quarter. Acadian Asset Management LLC now owns 307,200 shares of the oil and gas company’s stock valued at $1,016,000 after buying an additional 179,700 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Precision Drilling by 112.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 59,537 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 31,461 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Precision Drilling by 52.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,109,816 shares of the oil and gas company’s stock valued at $6,977,000 after buying an additional 730,166 shares during the period. Institutional investors own 50.10% of the company’s stock.

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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