Raymond James Lowers FY2026 EPS Forecast for Precision Drilling but Maintains 'Outperform' Rating

Raymond James Financial has revised downward its earnings forecast for Precision Drilling Corporation for fiscal year 2026, reducing the estimated EPS from $8.87 to $8.79, while still rating the stock as "Outperform." Currently, analysts project Precision Drilling's full-year earnings at an average of $7.10 per share. Following this update, the company's stock experienced a 3.9% decline, opening at $54.15, down from its 52-week high of $75.19. In a report dated July 30th, Raymond James analyst M. Barth adjusted the company's expected EPS for 2026, indicating a slight decrease but maintaining a positive outlook. The firm also projects earnings for subsequent years: $9.89 in 2027, $9.86 in 2028, and $11.21 in 2029. Other financial institutions have also provided insights: Royal Bank of Canada increased its target price to $100.00 and maintained an "outperform" rating, while Piper Sandler initiated coverage with an "overweight" rating and a $72.00 target. The consensus rating from MarketBeat indicates a "Moderate Buy" with an average price target of $86.00. As of Monday, Precision Drilling's shares traded at $54.15, with a market capitalization of approximately $720 million. The co...