Parker Drilling Stock Rating Lowered by Zacks (PKD)
Parker Drilling (NYSE:PKD) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, StockRatingsNetwork.com reports. They currently have a $6.80 price objective on the stock. Zacks‘ target price would suggest a potential upside of 16.04% from the stock’s previous close.
PKD has been the subject of a number of other recent research reports. Analysts at Barclays Capital raised their price target on shares of Parker Drilling (NYSE:PKD) from $6.00 to $7.00 in a research note to investors on Monday, September 9th. They now have an “equal weight” rating on the stock. Analysts at Global Hunter Securities raised their price target on shares of Parker Drilling (NYSE:PKD) from $6.50 to $7.00 in a research note to investors on Monday, August 5th.
Shares of Parker Drilling (NYSE:PKD) traded down 0.68% during mid-day trading on Wednesday, hitting $5.82. 206,752 shares of the company’s stock traded hands. Parker Drilling has a 1-year low of $3.61 and a 1-year high of $6.42. The stock has a 50-day moving average of $5.8 and a 200-day moving average of $5.09. The company’s market cap is $695.4 million.
Parker Drilling (NYSE:PKD) last released its earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.07. The company had revenue of $226.00 million for the quarter, compared to the consensus estimate of $234.60 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, analysts predict that Parker Drilling will post $0.39 earnings per share for the current fiscal year.
Parker Drilling Company (NYSE:PKD) is a provider of contract drilling and drilling-related services.
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