Seadrill (NYSE:SDRL) Posts Quarterly Earnings Results, Misses Estimates By $0.68 EPS

Seadrill (NYSE:SDRL) issued its earnings results on Tuesday. The oil and gas company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.68), FiscalAI reports. The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $382.66 million. Seadrill had a positive return on equity of 1.50% and a negative net margin of 1.13%.

Seadrill Stock Down 4.9%

SDRL traded down $2.12 during midday trading on Thursday, reaching $41.20. 1,056,648 shares of the company were exchanged, compared to its average volume of 781,899. Seadrill has a one year low of $28.10 and a one year high of $55.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The company’s fifty day moving average price is $47.72 and its 200 day moving average price is $45.09. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -142.07 and a beta of 1.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Seadrill in a research report on Monday, September 7th. Zacks Research cut Seadrill from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Weiss Ratings raised shares of Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 9th. Finally, BWS Financial reiterated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.40.

Seadrill Company Profile

Seadrill Limited (NYSE: SDRL) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs, which are used to explore for and develop hydrocarbon resources beneath the seabed.

Seadrill’s services include contract drilling, rig operations, well construction support and related offshore services. Its modern, high-specification fleet is designed to work in challenging deepwater and harsh-environment locations.