Ocean Rig UDW Given Average Rating of “Buy” by Brokerages (NASDAQ:ORIG)
Shares of Ocean Rig UDW (NASDAQ:ORIG) have been given a consensus recommendation of “Buy” by the ten analysts that are currently covering the stock, AnalystRatingsNetwork.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.50.
A number of analysts have recently weighed in on ORIG shares. Analysts at Nordea Equity Research downgraded shares of Ocean Rig UDW from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 8th. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Ocean Rig UDW in a research note on Monday, August 4th. They now have a $21.00 price target on the stock, down previously from $24.00.
Ocean Rig UDW (NASDAQ:ORIG) opened at 18.56 on Thursday. Ocean Rig UDW has a 1-year low of $16.12 and a 1-year high of $20.97. The stock has a 50-day moving average of $18.13 and a 200-day moving average of $17.79. The company has a market cap of $2.448 billion and a price-to-earnings ratio of 28.47.
Ocean Rig UDW (NASDAQ:ORIG) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.13. The company had revenue of $441.43 million for the quarter, compared to the consensus estimate of $418.11 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, analysts predict that Ocean Rig UDW will post $1.90 earnings per share for the current fiscal 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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