Zacks Upgrades Ocean Rig Udw to Outperform (ORIG)
Ocean Rig Udw (NASDAQ:ORIG) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, Analyst Ratings Network reports. The firm currently has a $21.60 price objective on the stock. Zacks‘ price target points to a potential upside of 11.57% from the company’s current price.
ORIG has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Ocean Rig Udw from $26.00 to $29.00 in a research note to investors on Wednesday, November 6th. They now have an “outperform” rating on the stock. Separately, analysts at DNB Markets upgraded shares of Ocean Rig Udw to a “buy” rating in a research note to investors on Tuesday, November 5th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.02.
Ocean Rig Udw (NASDAQ:ORIG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.11. The company had revenue of $328.51 million for the quarter, compared to the consensus estimate of $292.07 million. Ocean Rig Udw’s revenue was up 15.0% compared to the same quarter last year.
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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