Parker Drilling Company Rating Increased to Buy at Standpoint Research (PKD)
Parker Drilling Company (NYSE:PKD) was upgraded by Standpoint Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $9.00 price objective on the stock. Standpoint Research’s target price points to a potential upside of 43.31% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Hunter Securities cut their price target on shares of Parker Drilling Company from $9.00 to $7.00 in a research note on Wednesday, July 16th. Separately, analysts at Sidoti initiated coverage on shares of Parker Drilling Company in a research note on Wednesday, July 2nd. They set a “buy” rating and a $11.00 price target on the stock. Finally, analysts at Macquarie initiated coverage on shares of Parker Drilling Company in a research note on Wednesday, June 4th. They set an “outperform” rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $8.86.
Parker Drilling Company (NYSE:PKD) traded up 4.30% on Tuesday, hitting $6.55. The stock had a trading volume of 297,136 shares. Parker Drilling Company has a 1-year low of $5.54 and a 1-year high of $8.67. The stock has a 50-day moving average of $6.28 and a 200-day moving average of $6.73. The company has a market cap of $793.1 million and a price-to-earnings ratio of 35.48.
Parker Drilling Company (NYSE:PKD) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.02. The company had revenue of $254.20 million for the quarter, compared to the consensus estimate of $245.59 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts expect that Parker Drilling Company will post $0.43 EPS for the current fiscal year.
Parker Drilling Company (NYSE:PKD) is a provider of contract drilling and drilling-related services.
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