Analysts expect that Atwood Oceanics, Inc. (NYSE:ATW) will post sales of $96.85 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Atwood Oceanics’ earnings, with estimates ranging from $92.70 million to $101.00 million. Atwood Oceanics reported sales of $188.68 million in the same quarter last year, which would suggest a negative year over year growth rate of 48.7%. The firm is scheduled to issue its next quarterly earnings results on Friday, November 10th.

According to Zacks, analysts expect that Atwood Oceanics will report full year sales of $96.85 million for the current financial year, with estimates ranging from $484.60 million to $502.00 million. For the next fiscal year, analysts expect that the firm will report sales of $298.69 million per share, with estimates ranging from $272.00 million to $344.05 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Atwood Oceanics.

Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. The company had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $125.89 million. During the same period in the previous year, the firm posted $1.53 EPS. Atwood Oceanics’s revenue was down 48.6% compared to the same quarter last year.

Several equities analysts recently issued reports on the stock. DNB Markets raised shares of Atwood Oceanics from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. ValuEngine raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Clarkson Capital raised shares of Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, May 12th. Zacks Investment Research downgraded shares of Atwood Oceanics from a “hold” rating to a “sell” rating in a research note on Monday, April 17th. Finally, Jefferies Group LLC set a $10.00 target price on shares of Atwood Oceanics and gave the company a “hold” rating in a research note on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.40.

Atwood Oceanics (NYSE:ATW) opened at 6.64 on Monday. The stock’s market capitalization is $534.24 million. The firm has a 50-day moving average of $7.83 and a 200-day moving average of $9.07. Atwood Oceanics has a 1-year low of $6.12 and a 1-year high of $15.37.

ILLEGAL ACTIVITY WARNING: “Zacks: Analysts Anticipate Atwood Oceanics, Inc. (ATW) Will Announce Quarterly Sales of $96.85 Million” was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/14/zacks-analysts-anticipate-atwood-oceanics-inc-atw-will-announce-quarterly-sales-of-96-85-million.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in ATW. FMR LLC increased its position in shares of Atwood Oceanics by 2.7% in the second quarter. FMR LLC now owns 11,780,701 shares of the offshore driller’s stock worth $96,013,000 after buying an additional 310,669 shares during the last quarter. BlackRock Inc. increased its position in shares of Atwood Oceanics by 45,068.1% in the first quarter. BlackRock Inc. now owns 9,573,385 shares of the offshore driller’s stock worth $91,235,000 after buying an additional 9,552,190 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Atwood Oceanics by 9.0% in the second quarter. Vanguard Group Inc. now owns 7,609,809 shares of the offshore driller’s stock worth $62,021,000 after buying an additional 626,931 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Atwood Oceanics by 40.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,416,265 shares of the offshore driller’s stock worth $52,294,000 after buying an additional 1,860,301 shares during the last quarter. Finally, Van Den Berg Management I Inc. increased its position in shares of Atwood Oceanics by 21.7% in the first quarter. Van Den Berg Management I Inc. now owns 3,211,890 shares of the offshore driller’s stock worth $30,609,000 after buying an additional 571,783 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

About Atwood Oceanics

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.

Get a free copy of the Zacks research report on Atwood Oceanics (ATW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Atwood Oceanics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atwood Oceanics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.