Independence Contract Drilling (ICD) Earning Somewhat Favorable News Coverage, Report Shows
Media headlines about Independence Contract Drilling (NYSE:ICD) have trended somewhat positive recently, according to Accern Sentiment. The research group scores the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independence Contract Drilling earned a news impact score of 0.19 on Accern’s scale. Accern also assigned press coverage about the oil and gas company an impact score of 46.0576752007757 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Independence Contract Drilling (NYSE ICD) opened at $3.86 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.84 and a current ratio of 2.01. Independence Contract Drilling has a 1-year low of $2.72 and a 1-year high of $7.30.
Independence Contract Drilling (NYSE:ICD) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). The firm had revenue of $23.45 million for the quarter, compared to analysts’ expectations of $23.54 million. Independence Contract Drilling had a negative net margin of 34.87% and a negative return on equity of 8.28%. The business’s quarterly revenue was up 62.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. equities research analysts predict that Independence Contract Drilling will post -0.53 earnings per share for the current year.
A number of equities analysts recently weighed in on the company. Cowen Inc set a $5.00 price objective on Independence Contract Drilling and gave the company a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research raised Independence Contract Drilling from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Royal Bank Of Canada decreased their price objective on Independence Contract Drilling from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, September 29th. B. Riley decreased their price objective on Independence Contract Drilling from $8.75 to $7.75 and set a “buy” rating on the stock in a report on Wednesday. Finally, ValuEngine raised Independence Contract Drilling from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.45.
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Independence Contract Drilling Company Profile
Independence Contract Drilling, Inc provides land-based contract drilling services for oil and natural gas producers in the United States. The company constructs, owns, and operates a fleet of ShaleDriller rigs to optimize the development of various oil and gas properties in the Permian Basin. As of December 31, 2016, it had 12 rigs.
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