Zacks: Analysts Expect Helmerich & Payne, Inc. (NYSE:HP) Will Announce Quarterly Sales of $318.08 Million

Analysts expect that Helmerich & Payne, Inc. (NYSE:HP) will announce sales of $318.08 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Helmerich & Payne’s earnings. The lowest sales estimate is $272.41 million and the highest is $369.70 million. Helmerich & Payne reported sales of $687.97 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 53.8%. The firm is expected to report its next quarterly earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that Helmerich & Payne will report full year sales of $1.81 billion for the current year, with estimates ranging from $1.74 billion to $1.90 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.04 billion, with estimates ranging from $832.42 million to $1.23 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Helmerich & Payne.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.08). Helmerich & Payne had a negative net margin of 19.47% and a positive return on equity of 2.64%. The business had revenue of $633.64 million during the quarter, compared to analyst estimates of $554.06 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was down 12.1% on a year-over-year basis.

HP has been the topic of several analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $24.00 price target on shares of Helmerich & Payne in a research note on Monday, April 6th. Bank of America upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating in a report on Thursday, May 28th. Piper Sandler raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research note on Wednesday, May 27th. ValuEngine raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays lowered their target price on shares of Helmerich & Payne from $22.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.59.

HP stock traded up $0.69 during trading on Monday, hitting $19.13. The company had a trading volume of 1,545,478 shares, compared to its average volume of 3,191,025. The company has a quick ratio of 2.67, a current ratio of 2.97 and a debt-to-equity ratio of 0.14. Helmerich & Payne has a 1-year low of $12.40 and a 1-year high of $53.06. The firm has a 50-day moving average price of $20.92 and a 200-day moving average price of $28.70. The firm has a market cap of $1.98 billion, a PE ratio of -4.11 and a beta of 2.10.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.23%. Helmerich & Payne’s payout ratio is 162.29%.

A number of hedge funds have recently modified their holdings of the business. Atlas Capital Advisors LLC acquired a new stake in shares of Helmerich & Payne in the first quarter valued at approximately $27,000. Ellevest Inc. boosted its holdings in Helmerich & Payne by 89.5% in the first quarter. Ellevest Inc. now owns 2,096 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 990 shares during the period. Quadrant Capital Group LLC boosted its holdings in Helmerich & Payne by 726.2% in the fourth quarter. Quadrant Capital Group LLC now owns 851 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 748 shares during the period. Neo Ivy Capital Management purchased a new position in Helmerich & Payne in the fourth quarter valued at $41,000. Finally, Signaturefd LLC lifted its holdings in Helmerich & Payne by 90.7% during the 1st quarter. Signaturefd LLC now owns 2,609 shares of the oil and gas company’s stock worth $41,000 after buying an additional 1,241 shares during the last quarter. Institutional investors own 91.66% of the company’s stock.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.

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

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