NEW YORK (TheStreet) -- Shares of Precision Drilling were falling 8.5% to $8.10 Monday after missing analysts' estimates for revenue in the third quarter. The oil and gas equipment and services company reported earnings of 18 Canadian cents a share for the third quarter, in-line with the Capital IQ Consensus Estimates of 18 Canadian cents. Revenue grew 19.7% year over year to C$584.6 million for the quarter, missing analysts' estimates of C$590.58 million. Revenue from Precision Drilling's Contract Drilling Services and Completion and Production Services segments grew 22% and 7% year over year, respectively. Must Read:aWarren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. "Precision's growth has been most significant in the U.S. where our drilling days increased 20% year over year, compared to an 8% increase in industry activity," CEO Kevin Neveu said in a statement. TheStreet Ratings team rates PRECISION DRILLING CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation: "We rate PRECISION DRILLING CORP (PDS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and a generally disappointing performance in the stock itself." You can view the full analysis from the report here: PDS Ratings Report PDS data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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