Atwood Oceanics, Inc. (NYSE:ATW) released its quarterly earnings results on Thursday. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01, Briefing.com reports. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The business had revenue of $117.20 million for the quarter, compared to analyst estimates of $125.89 million. During the same quarter in the previous year, the business earned $1.53 earnings per share. The firm’s revenue was down 48.6% compared to the same quarter last year.

Atwood Oceanics (NYSE:ATW) traded down 2.92% during mid-day trading on Friday, hitting $7.66. 3,124,318 shares of the company traded hands. The stock has a market capitalization of $616.78 million, a price-to-earnings ratio of 6.19 and a beta of 2.36. Atwood Oceanics has a one year low of $6.12 and a one year high of $15.37. The company’s 50-day moving average is $8.23 and its 200-day moving average is $9.35.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/04/atwood-oceanics-inc-atw-posts-earnings-results-beats-expectations-by-0-01-eps.html.

A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research note on Tuesday, July 25th. Jefferies Group LLC set a $10.00 price objective on shares of Atwood Oceanics and gave the company a “hold” rating in a research note on Monday, June 19th. Piper Jaffray Companies lowered shares of Atwood Oceanics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $10.00 in a research note on Monday, June 19th. Finally, Seaport Global Securities upgraded shares of Atwood Oceanics from a “sell” rating to a “neutral” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Atwood Oceanics presently has an average rating of “Hold” and a consensus price target of $11.50.

About Atwood Oceanics

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.

Earnings History for Atwood Oceanics (NYSE:ATW)

Receive News & Stock Ratings for Atwood Oceanics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atwood Oceanics Inc. and related stocks with our FREE daily email newsletter.