Precision Drilling Corp (USA) (PDS) Releases Earnings Results, Beats Expectations By $0.09 EPS

Precision Drilling Corp (USA) (PDS) reported quarterly earnings results on Monday, Apr-25-2016. The company said it had a profit of $-0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.16. The company posted revenue of $301.70 million in the period, compared to analysts expectations of $281.99 million. The company’s revenue was down -41.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Precision Drilling Corp (USA). Precision Drilling Corp (USA) was Downgraded by Raymond James to ” Underperform” on Apr 20, 2016. Shares were Reiterated by Cowen on Feb 16, 2016 to “Outperform” and Lowered the Price Target to $ 4.40 from a previous price target of $5.30 .Shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 6.50 from a previous price target of $7.50 .

Precision Drilling Corp (USA) opened for trading at $4.66 and hit $4.86 on the upside on Friday, eventually ending the session at $4.76, with a gain of 3.03% or 0.14 points. The heightened volatility saw the trading volume jump to 23,32,605 shares. Company has a market cap of $1,394 M.

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides contract drilling well servicing and strategic support services to customers. It provides customers with access to a fleet of contract drilling rigs directional drilling services well service and snubbing rigs coiled tubing services camps rental equipment and water treatment units backed by a mix of technical support services. The Company provides the equipment personnel and support services which enables drill complete and workover onshore wells for conventional and unconventional crude oil and natural gas exploration and production. The Company’s service lines include Drilling Rigs (Canada) Drilling Rigs (United States) Drilling Rigs (International) Directional Drilling (Canada and United States) Rig Builds and Repair Turnkey Drilling Services Oilfield Supplies (Canada and United States) and Oilfield Equipment Rentals among others.

Precision Drilling Corp (USA)

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