Wall Street brokerages expect Helmerich & Payne, Inc. (NYSE:HP) to report sales of $696.92 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Helmerich & Payne’s earnings, with the lowest sales estimate coming in at $679.00 million and the highest estimate coming in at $737.80 million. Helmerich & Payne posted sales of $648.87 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 24th.
On average, analysts expect that Helmerich & Payne will report full-year sales of $2.87 billion for the current fiscal year, with estimates ranging from $2.82 billion to $2.98 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.03 billion, with estimates ranging from $2.88 billion to $3.55 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Helmerich & Payne.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.18. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The business had revenue of $720.87 million for the quarter, compared to analysts’ expectations of $712.29 million. During the same period last year, the business earned ($0.05) earnings per share. The business’s quarterly revenue was up 24.8% on a year-over-year basis.
HP has been the subject of a number of analyst reports. Zacks Investment Research lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. TheStreet raised Helmerich & Payne from a “c” rating to a “b-” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lowered Helmerich & Payne from a “buy” rating to a “hold” rating and dropped their price objective for the company from $64.00 to $56.00 in a research note on Friday, March 15th. Piper Jaffray Companies reissued a “hold” rating and set a $62.00 price objective on shares of Helmerich & Payne in a research note on Tuesday, February 5th. Finally, Macquarie set a $45.00 price objective on Helmerich & Payne and gave the company a “sell” rating in a research note on Tuesday, February 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Helmerich & Payne currently has an average rating of “Hold” and an average price target of $66.47.
NYSE HP traded down $1.42 on Wednesday, reaching $54.11. 786,500 shares of the company’s stock traded hands, compared to its average volume of 1,280,289. Helmerich & Payne has a 12 month low of $44.56 and a 12 month high of $73.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.37. The stock has a market capitalization of $5.98 billion, a P/E ratio of 386.50 and a beta of 1.52.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date is Friday, May 10th. Helmerich & Payne’s payout ratio is 2,028.57%.
A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Helmerich & Payne by 3,372.6% in the fourth quarter. Millennium Management LLC now owns 2,322,923 shares of the oil and gas company’s stock worth $111,361,000 after purchasing an additional 2,256,030 shares in the last quarter. Norges Bank bought a new position in Helmerich & Payne in the fourth quarter worth $45,764,000. Rothschild & Co. Asset Management US Inc. bought a new position in Helmerich & Payne in the fourth quarter worth $34,483,000. Thornburg Investment Management Inc. bought a new position in Helmerich & Payne in the fourth quarter worth $23,586,000. Finally, Wedge Capital Management L L P NC bought a new position in Helmerich & Payne in the first quarter worth $17,491,000. 93.88% of the stock is owned by institutional investors.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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