FY2020 Earnings Forecast for Helmerich & Payne Inc. Issued By Jefferies Group (HP)
Helmerich & Payne Inc. (NYSE:HP) – Research analysts at Jefferies Group issued their FY2020 earnings per share estimates for Helmerich & Payne in a report issued on Friday. Jefferies Group analyst B. Handler anticipates that the firm will post earnings per share of $4.00 for the year. Jefferies Group has a “Sell” rating and a $50.00 price target on the stock.
Other equities research analysts also recently issued research reports about the company. FBR & Co reduced their target price on Helmerich & Payne from $66.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, July 29th. Simmons reaffirmed a “neutral” rating and issued a $50.00 target price (down previously from $54.00) on shares of Helmerich & Payne in a report on Thursday, August 4th. Citigroup Inc. reduced their target price on Helmerich & Payne from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, September 12th. Morgan Stanley raised Helmerich & Payne from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $80.00 in a report on Tuesday, September 6th. Finally, Credit Suisse Group AG reiterated a “sell” rating and issued a $53.00 price target on shares of Helmerich & Payne in a research note on Friday. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.95.
Shares of Helmerich & Payne (NYSE:HP) traded up 0.51% during midday trading on Monday, hitting $69.47. The company had a trading volume of 1,971,032 shares. The stock’s 50-day moving average price is $66.01 and its 200-day moving average price is $63.52. The stock’s market capitalization is $7.51 billion. Helmerich & Payne has a one year low of $40.02 and a one year high of $70.39.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, November 17th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. Helmerich & Payne had a negative return on equity of 2.25% and a negative net margin of 3.50%. The business earned $332 million during the quarter, compared to analysts’ expectations of $304.26 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was down 40.1% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.05%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -518.52%.
In other news, insider John R. Bell sold 9,000 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $66.35, for a total transaction of $597,150.00. Following the completion of the transaction, the insider now directly owns 45,666 shares in the company, valued at approximately $3,029,939.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay sold 15,000 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $67.45, for a total transaction of $1,011,750.00. Following the transaction, the chief executive officer now owns 141,512 shares of the company’s stock, valued at $9,544,984.40. The disclosure for this sale can be found here. 4.23% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtus Investment Advisers Inc. bought a new position in shares of Helmerich & Payne during the third quarter valued at about $105,000. Mizuho Asset Management Co. Ltd. raised its stake in Helmerich & Payne by 74.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,604 shares of the company’s stock valued at $108,000 after buying an additional 687 shares during the last quarter. Independent Portfolio Consultants Inc. raised its stake in Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock valued at $119,000 after buying an additional 125 shares during the last quarter. NEXT Financial Group Inc raised its stake in Helmerich & Payne by 19.5% in the third quarter. NEXT Financial Group Inc now owns 1,820 shares of the company’s stock valued at $122,000 after buying an additional 297 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock valued at $124,000 after buying an additional 33 shares during the last quarter.
Helmerich & Payne Company Profile
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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