Wall Street analysts predict that Atwood Oceanics, Inc. (NYSE:ATW) will post sales of $123.10 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Atwood Oceanics’ earnings, with the highest sales estimate coming in at $125.50 million and the lowest estimate coming in at $120.00 million. Atwood Oceanics posted sales of $227.80 million in the same quarter last year, which indicates a negative year over year growth rate of 46%. The firm is expected to report its next quarterly earnings report on Monday, August 7th.

According to Zacks, analysts expect that Atwood Oceanics will report full-year sales of $123.10 million for the current financial year, with estimates ranging from $501.60 million to $520.00 million. For the next financial year, analysts expect that the company will report sales of $299.57 million per share, with estimates ranging from $246.60 million to $351.56 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Atwood Oceanics.

Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Monday, May 8th. The offshore driller reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.66. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The firm had revenue of $167.71 million for the quarter, compared to the consensus estimate of $130.51 million. During the same quarter in the previous year, the company earned $1.89 earnings per share. The business’s revenue was down 43.4% compared to the same quarter last year.

Several analysts have issued reports on the company. ValuEngine upgraded Atwood Oceanics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Seaport Global Securities upgraded Atwood Oceanics from a “sell” rating to a “neutral” rating in a research note on Friday, June 2nd. Wood & Company upgraded Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Raymond James Financial, Inc. upgraded Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Finally, Barclays PLC restated an “underweight” rating and issued a $10.00 target price (up from $7.00) on shares of Atwood Oceanics in a research note on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $11.67.

Atwood Oceanics (ATW) traded down 0.13% during midday trading on Thursday, reaching $7.96. 6,432,252 shares of the company’s stock were exchanged. The company has a market cap of $640.93 million, a P/E ratio of 6.43 and a beta of 2.37. The company has a 50 day moving average price of $8.41 and a 200 day moving average price of $9.55. Atwood Oceanics has a 12 month low of $6.12 and a 12 month high of $15.37.

A number of institutional investors have recently bought and sold shares of ATW. Municipal Employees Retirement System of Michigan boosted its position in Atwood Oceanics by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock valued at $144,000 after buying an additional 1,030 shares during the last quarter. Aperio Group LLC boosted its position in Atwood Oceanics by 10.9% in the second quarter. Aperio Group LLC now owns 127,013 shares of the offshore driller’s stock valued at $1,035,000 after buying an additional 12,491 shares during the last quarter. Chicago Capital Management LLC acquired a new position in Atwood Oceanics during the second quarter valued at approximately $1,793,000. State of Alaska Department of Revenue boosted its position in Atwood Oceanics by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock valued at $119,000 after buying an additional 6,400 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Atwood Oceanics during the second quarter valued at approximately $176,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

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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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Earnings History and Estimates for Atwood Oceanics (NYSE:ATW)

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