FY2016 EPS Estimates for Atwood Oceanics Inc. (ATW) Boosted by Jefferies Group
Atwood Oceanics Inc. (NYSE:ATW) – Investment analysts at Jefferies Group boosted their FY2016 earnings per share (EPS) estimates for Atwood Oceanics in a research note issued on Wednesday. Jefferies Group analyst E. Royes now expects that the brokerage will earn $4.67 per share for the year, up from their previous forecast of $4.65. Jefferies Group currently has a “Hold” rating and a $8.00 target price on the stock. Jefferies Group also issued estimates for Atwood Oceanics’ Q4 2016 earnings at $0.61 EPS, Q1 2017 earnings at $0.35 EPS, Q2 2017 earnings at ($0.28) EPS, Q3 2017 earnings at ($0.21) EPS, Q4 2017 earnings at ($0.71) EPS and FY2018 earnings at ($2.60) EPS.
A number of other equities research analysts have also recently issued reports on the company. Goldman Sachs Group Inc. restated a “sell” rating on shares of Atwood Oceanics in a report on Friday, September 23rd. Clarkson Capital upgraded Atwood Oceanics from a “sell” rating to a “neutral” rating in a report on Thursday, September 22nd. Scotiabank restated a “sector perform” rating on shares of Atwood Oceanics in a report on Wednesday, September 14th. Scotia Howard Weill assumed coverage on Atwood Oceanics in a report on Wednesday, September 14th. They set a “sector perform” rating and a $8.50 price objective for the company. Finally, Raymond James Financial Inc. cut Atwood Oceanics from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 14th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.64.
Shares of Atwood Oceanics (NYSE:ATW) opened at 8.69 on Friday. The firm has a market capitalization of $563.11 million, a PE ratio of 1.37 and a beta of 2.23. The stock has a 50 day moving average price of $7.91 and a 200 day moving average price of $9.89. Atwood Oceanics has a 1-year low of $4.82 and a 1-year high of $19.65.
Atwood Oceanics (NYSE:ATW) last released its quarterly earnings results on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.63. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The firm earned $227.80 million during the quarter, compared to analysts’ expectations of $232.74 million. During the same period last year, the firm posted $1.73 EPS. The business’s revenue was down 31.1% on a year-over-year basis.
Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Atwood Oceanics by 1.8% in the second quarter. FMR LLC now owns 9,410,000 shares of the company’s stock worth $117,813,000 after buying an additional 165,000 shares during the period. Vanguard Group Inc. boosted its position in Atwood Oceanics by 1.6% in the second quarter. Vanguard Group Inc. now owns 6,290,948 shares of the company’s stock worth $78,762,000 after buying an additional 99,998 shares during the period. BlackRock Fund Advisors boosted its position in Atwood Oceanics by 27.6% in the first quarter. BlackRock Fund Advisors now owns 4,112,195 shares of the company’s stock worth $37,709,000 after buying an additional 890,165 shares during the period. Key Group Holdings Cayman LTD. boosted its position in Atwood Oceanics by 91.7% in the second quarter. Key Group Holdings Cayman LTD. now owns 2,800,023 shares of the company’s stock worth $35,056,000 after buying an additional 1,339,490 shares during the period. Finally, State Street Corp boosted its position in Atwood Oceanics by 2.0% in the second quarter. State Street Corp now owns 2,426,876 shares of the company’s stock worth $30,384,000 after buying an additional 47,139 shares during the period.
Atwood Oceanics Company Profile
Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.
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