Atwood Oceanics Inc. (ATW) Downgraded by BMO Capital Markets to Underperform
Atwood Oceanics Inc. (NYSE:ATW) was downgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Monday.
Several other equities research analysts have also issued reports on the stock. Wood & Company upgraded shares of Atwood Oceanics to a “strong-buy” rating in a research report on Thursday, July 7th. Citigroup Inc. dropped their target price on shares of Atwood Oceanics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Royal Bank Of Canada dropped their target price on shares of Atwood Oceanics from $14.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday, August 12th. Vetr upgraded shares of Atwood Oceanics from a “buy” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research report on Wednesday, July 6th. Finally, Jefferies Group set a $8.00 target price on shares of Atwood Oceanics and gave the company a “hold” rating in a research report on Wednesday, September 28th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Atwood Oceanics presently has an average rating of “Hold” and a consensus price target of $10.64.
Atwood Oceanics (NYSE:ATW) traded up 0.77% during midday trading on Monday, hitting $9.17. The company had a trading volume of 1,507,965 shares. The company has a market cap of $594.22 million, a price-to-earnings ratio of 1.45 and a beta of 2.22. The firm has a 50-day moving average price of $7.99 and a 200-day moving average price of $9.88. Atwood Oceanics has a 12 month low of $4.82 and a 12 month high of $19.65.
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Atwood Oceanics (NYSE:ATW) last announced its earnings results on Monday, August 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.63. Atwood Oceanics had a net margin of 34.45% and a return on equity of 13.79%. The business earned $227.80 million during the quarter, compared to analyst estimates of $232.74 million. During the same period in the previous year, the business posted $1.73 earnings per share. Atwood Oceanics’s revenue for the quarter was down 31.1% on a year-over-year basis. Equities analysts anticipate that Atwood Oceanics will post $4.70 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in Atwood Oceanics by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 8,449 shares of the company’s stock valued at $106,000 after buying an additional 1,049 shares in the last quarter. Advisor Partners LLC bought a new position in Atwood Oceanics during the first quarter valued at about $115,000. Mason Street Advisors LLC bought a new position in Atwood Oceanics during the second quarter valued at about $143,000. Raymond James & Associates boosted its position in Atwood Oceanics by 0.4% in the second quarter. Raymond James & Associates now owns 11,621 shares of the company’s stock valued at $145,000 after buying an additional 48 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Atwood Oceanics by 32.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,237 shares of the company’s stock valued at $166,000 after buying an additional 3,234 shares in the last quarter.
Atwood Oceanics Company Profile
Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.
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