Ocean Rig Udw (ORIG) Posts Quarterly Results
Ocean Rig Udw (NASDAQ:ORIG) posted its quarterly earnings results on Monday. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.11, AnalystRatings.NET reports. The company had revenue of $328.51 million for the quarter, compared to the consensus estimate of $292.07 million. The company’s quarterly revenue was up 15.0% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Danske Bank initiated coverage on shares of Ocean Rig Udw in a research note to investors on Tuesday, October 29th. They set a “hold” rating on the stock. On a related note, analysts at Zacks upgraded shares of Ocean Rig Udw from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 14th. They now have a $19.70 price target on the stock. Finally, analysts at TheStreet downgraded shares of Ocean Rig Udw from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Ocean Rig Udw has an average rating of “Buy” and a consensus price target of $23.03.
Ocean Rig Udw (NASDAQ:ORIG) traded up 1.92% during mid-day trading on Monday, hitting $18.05. The stock had a trading volume of 798,532 shares. Ocean Rig Udw has a 52 week low of $13.45 and a 52 week high of $19.30. The stock has a 50-day moving average of $18.40 and a 200-day moving average of $17.62. The company’s market cap is $2.378 billion.
Ocean Rig UDW Inc is a Marshall Islands-registered international offshore drilling contractor. The Company provides oilfield services for offshore oil and gas exploration, development and production drilling.
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