Analysts forecast that Atwood Oceanics, Inc. (NYSE:ATW) will report sales of $96.85 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Atwood Oceanics’ earnings, with estimates ranging from $92.70 million to $101.00 million. Atwood Oceanics posted sales of $188.68 million during the same quarter last year, which would indicate a negative year over year growth rate of 48.7%. The firm is scheduled to report its next earnings report on Friday, November 10th.

On average, analysts expect that Atwood Oceanics will report full year sales of $96.85 million for the current fiscal year, with estimates ranging from $484.60 million to $502.00 million. For the next fiscal year, analysts expect that the firm will report sales of $298.69 million per share, with estimates ranging from $272.00 million to $344.05 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Atwood Oceanics.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $117.20 million during the quarter, compared to the consensus estimate of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The company’s revenue for the quarter was down 48.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 earnings per share.

Several brokerages have commented on ATW. Jefferies Group LLC set a $10.00 price target on shares of Atwood Oceanics and gave the company a “hold” rating in a report on Wednesday, May 17th. Citigroup Inc. reissued a “neutral” rating on shares of Atwood Oceanics in a report on Thursday. Zacks Investment Research raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Wednesday, July 12th. ValuEngine raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Atwood Oceanics has an average rating of “Hold” and a consensus price target of $11.40.

Atwood Oceanics (ATW) opened at 6.57 on Friday. The firm’s market capitalization is $528.61 million. The stock’s 50 day moving average is $7.20 and its 200 day moving average is $8.50. Atwood Oceanics has a one year low of $5.91 and a one year high of $15.37.

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Several institutional investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP purchased a new position in Atwood Oceanics during the first quarter worth about $117,000. State of Alaska Department of Revenue boosted its position in Atwood Oceanics by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock worth $119,000 after buying an additional 6,400 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Atwood Oceanics during the second quarter worth about $133,000. Municipal Employees Retirement System of Michigan boosted its position in Atwood Oceanics by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock worth $144,000 after buying an additional 1,030 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its position in Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock worth $163,000 after buying an additional 3,416 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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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Earnings History and Estimates for Atwood Oceanics (NYSE:ATW)

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