Helmerich & Payne Upgraded to Neutral at Credit Suisse (HP)
Helmerich & Payne (NYSE:HP) was upgraded by analysts at Credit Suisse from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.
Helmerich & Payne (NYSE:HP) opened at 102.26 on Thursday. Helmerich & Payne has a one year low of $62.39 and a one year high of $118.95. The stock has a 50-day moving average of $112.1 and a 200-day moving average of $105.5. The company has a market cap of $11.067 billion and a price-to-earnings ratio of 15.74.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.12. The company had revenue of $952.10 million for the quarter, compared to the consensus estimate of $942.13 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts predict that Helmerich & Payne will post $6.29 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on HP. Analysts at Global Hunter Securities upgraded shares of Helmerich & Payne from a “neutral” rating to an “accumulate” rating in a research note on Tuesday. They now have a $115.00 price target on the stock, down previously from $129.00. Separately, analysts at Cowen and Company raised their price target on shares of Helmerich & Payne from $112.00 to $115.00 in a research note on Friday, August 1st. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Friday, August 1st. They now have a $115.00 price target on the stock, up previously from $105.00. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Helmerich & Payne has an average rating of “Hold” and an average price target of $105.08.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.
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