Precision Drilling Corp (USA) (PDS) Releases Earnings Results, Beats Expectations By $0.04 EPS

Precision Drilling Corp (USA) (PDS) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $-0.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.24. The company posted revenue of $164.00 million in the period, compared to analysts expectations of $167.35 million. The company’s revenue was down -51.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Many Wall Street Analysts have commented on Precision Drilling Corp (USA). Precision Drilling Corp (USA) was Downgraded by Credit Suisse to ” Underperform” on Jun 1, 2016. Precision Drilling Corp (USA) was Upgraded by Raymond James to ” Mkt Perform” on May 31, 2016. Company shares were Reiterated by Cowen on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 5 from a previous price target of $4.40 .

Precision Drilling Corp (USA) (PDS) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $4.64 and reached the intraday high at $4.7699. The bulls started the profit booking and pushed the shares to intraday low of $4.57. The trading session was marked by a volume range of 12,84,763 shares exchanging hands. The 52-week high of the shares is $6.08 and the 52-week low is $2.4301. The market cap of the company stands at $1,374 M and there are 29,29,44,590 shares in public circulation.

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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