Precision Drilling Corp reports results for the quarter ended March 31 - Earnings Summary

• Precision Drilling Corp PD.TO reported quarterly adjusted earnings of C$2.20​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of C$2.53. The mean expectation of four analysts for the quarter was for earnings of C$2.41 per share. Wall Street expected results to range from C$2.21 to C$2.83 per share.

• Revenue fell 6% to C$496.33 million from a year ago; analysts expected C$493.78 million.

• Precision Drilling Corp's reported EPS for the quarter was C$2.20​.

• The company reported quarterly net income of C$34.51 million.

• Precision Drilling Corp shares had fallen by 11.0% this quarter and lost 32.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 13.5% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas drilling peer group is also "buy"

• Wall Street's median 12-month price target for Precision Drilling Corp is C$100.00

This summary was machine generated from LSEG data April 23 at 10:37 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)