Cormark Comments on Precision Drilling Co.’s Q4 2018 Earnings (PD)

Precision Drilling Co. (TSE:PD) (NYSE:PDS) – Investment analysts at Cormark reduced their Q4 2018 earnings per share (EPS) estimates for shares of Precision Drilling in a report released on Monday. Cormark analyst J. Zhang now forecasts that the company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.03.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity cut their price target on shares of Precision Drilling from C$4.25 to C$3.75 in a report on Monday. BMO Capital Markets reissued an “outperform” rating and set a C$6.00 price target on shares of Precision Drilling in a report on Monday. Deutsche Bank AG reissued a “hold” rating and set a C$4.00 price target on shares of Precision Drilling in a report on Tuesday, October 10th. TD Securities reissued a “buy” rating and set a C$6.00 price target on shares of Precision Drilling in a report on Tuesday, September 12th. Finally, Raymond James Financial, Inc. cut their price target on shares of 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Precision Drilling presently has a consensus rating of “Hold” and an average price target of C$6.25.

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In related news, Director Steven Wayne Krablin bought 10,000 shares of the company’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of C$2.63 per share, with a total value of C$26,300.00.

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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