Helmerich & Payne, Inc. (HP) Expected to Announce Quarterly Sales of $484.75 Million
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%.
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.
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