Atwood Oceanics, Inc. (NYSE:ATW) Announces Quarterly Earnings Results
Atwood Oceanics, Inc. (NYSE:ATW) released its quarterly earnings data on Thursday. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01, Briefing.com reports. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The company had revenue of $117.20 million during the quarter, compared to the consensus estimate of $125.89 million. During the same quarter in the prior year, the firm posted $1.53 earnings per share. Atwood Oceanics’s revenue for the quarter was down 48.6% on a year-over-year basis.
Shares of Atwood Oceanics (NYSE:ATW) traded down 2.92% on Friday, reaching $7.66. 3,124,318 shares of the company’s stock were exchanged. Atwood Oceanics has a 1-year low of $6.12 and a 1-year high of $15.37. The stock’s 50-day moving average price is $8.23 and its 200-day moving average price is $9.35. The company has a market capitalization of $616.78 million, a P/E ratio of 6.19 and a beta of 2.36.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. upgraded shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Piper Jaffray Companies downgraded shares of Atwood Oceanics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $10.00 in a research note on Monday, June 19th. Finally, Seaport Global Securities upgraded shares of Atwood Oceanics from a “sell” rating to a “neutral” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Atwood Oceanics presently has a consensus rating of “Hold” and an average target price of $11.50.
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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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