$488.23 Million in Sales Expected for Helmerich & Payne, Inc. (HP) This Quarter
Wall Street analysts forecast that Helmerich & Payne, Inc. (NYSE:HP) will report sales of $488.23 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Helmerich & Payne’s earnings. The lowest sales estimate is $448.00 million and the highest is $500.70 million. Helmerich & Payne reported sales of $331.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 47.2%. The firm is expected to report 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 $488.23 million for the current fiscal year, with estimates ranging from $1.72 billion to $1.77 billion. For the next financial year, analysts forecast that the firm will post sales of $1.94 billion per share, with estimates ranging from $1.82 billion to $2.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Helmerich & Payne.
A number of brokerages have recently issued reports on HP. B. Riley reissued a “neutral” rating on shares of Helmerich & Payne in a research note on Wednesday, November 1st. Cowen and Company set a $50.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Wednesday, October 18th. Royal Bank Of Canada reissued a “hold” rating and set a $53.00 target price on shares of Helmerich & Payne in a research note on Wednesday, October 18th. BMO Capital Markets reissued a “sell” rating on shares of Helmerich & Payne in a research note on Friday, October 13th. Finally, Deutsche Bank AG began coverage on shares of Helmerich & Payne in a research note on Tuesday, October 10th. They set a “hold” rating and a $45.00 target price for the company. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.27.
Shares of Helmerich & Payne (HP) traded down $0.67 on Tuesday, hitting $58.15. 1,715,252 shares of the stock were exchanged, compared to its average volume of 1,867,401. Helmerich & Payne has a 1 year low of $42.16 and a 1 year high of $85.78. The company has a quick ratio of 3.33, a current ratio of 3.74 and a debt-to-equity ratio of 0.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, November 10th. This represents a $2.80 annualized dividend and a dividend yield of 4.82%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -167.66%.
In related news, CEO John W. Lindsay acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were purchased at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 147,727 shares in the company, valued at approximately $7,051,009.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Meridian Wealth Management LLC acquired a new position in shares of Helmerich & Payne during the third quarter valued at about $217,000. Swiss National Bank increased its holdings in Helmerich & Payne by 3.1% in the 2nd quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock worth $21,467,000 after buying an additional 11,800 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new position in Helmerich & Payne in the 3rd quarter worth approximately $286,000. Andra AP fonden increased its holdings in Helmerich & Payne by 65.7% in the 2nd quarter. Andra AP fonden now owns 29,000 shares of the oil and gas company’s stock worth $1,576,000 after buying an additional 11,500 shares during the period. Finally, Brookstone Capital Management acquired a new position in Helmerich & Payne in the 2nd quarter worth approximately $284,000.
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About Helmerich & Payne
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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