Wall Street brokerages expect Helmerich & Payne, Inc. (NYSE:HP) to announce $484.75 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Helmerich & Payne’s earnings, with the lowest sales estimate coming in at $448.00 million and the highest estimate coming in at $500.70 million. Helmerich & Payne posted sales of $331.71 million during the same quarter last year, which suggests a positive year over year growth rate of 46.1%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, November 16th.

On average, analysts expect that Helmerich & Payne will report full year sales of $484.75 million for the current financial year, with estimates ranging from $1.72 billion to $1.77 billion. For the next year, analysts expect that the firm will report sales of $1.98 billion per share, with estimates ranging from $1.82 billion to $2.22 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Helmerich & Payne.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. During the same period in the previous year, the business posted ($0.20) EPS. The business’s quarterly revenue was up 36.0% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC set a $50.00 price objective on Helmerich & Payne and gave the company a “hold” rating in a report on Thursday, October 5th. Sanford C. Bernstein reissued an “outperform” rating and issued a $66.00 price objective on shares of Helmerich & Payne in a report on Wednesday, September 6th. Seaport Global Securities reissued a “sell” rating on shares of Helmerich & Payne in a report on Thursday, July 20th. Finally, Deutsche Bank AG assumed coverage on Helmerich & Payne in a report on Tuesday, October 10th. They issued a “hold” rating and a $45.00 price objective for the company. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.27.

Shares of Helmerich & Payne (HP) traded down 0.70% during mid-day trading on Thursday, reaching $50.84. 699,496 shares of the company’s stock traded hands. The firm’s market cap is $5.52 billion. The firm’s 50-day moving average is $49.75 and its 200 day moving average is $53.83. Helmerich & Payne has a one year low of $42.16 and a one year high of $85.78.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 5.47%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s payout ratio is -167.66%.

TRADEMARK VIOLATION WARNING: This piece was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/19/helmerich-payne-inc-hp-expected-to-announce-quarterly-sales-of-484-75-million.html.

In other Helmerich & Payne news, CEO John W. Lindsay acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was purchased at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the transaction, the chief executive officer now owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Ffcm LLC increased its position in shares of Helmerich & Payne by 409.2% in the second quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 2,308 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Helmerich & Payne by 3.1% in the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 101 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Helmerich & Payne in the first quarter valued at $209,000. Murphy Capital Management Inc. increased its position in shares of Helmerich & Payne by 2.6% in the second quarter. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 100 shares in the last quarter. Finally, Access Financial Services Inc. purchased a new position in shares of Helmerich & Payne in the second quarter valued at $223,000.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Get a free copy of the Zacks research report on Helmerich & Payne (HP)

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

Earnings History and Estimates for Helmerich & Payne (NYSE:HP)

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