Wall Street brokerages expect Helmerich & Payne, Inc. (NYSE:HP) to announce sales of $697.06 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Helmerich & Payne’s earnings, with the highest sales estimate coming in at $737.80 million and the lowest estimate coming in at $680.00 million. Helmerich & Payne reported sales of $648.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The firm is expected to report its next earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Helmerich & Payne will report full-year sales of $2.87 billion for the current fiscal year, with estimates ranging from $2.82 billion to $2.98 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.02 billion, with estimates ranging from $2.81 billion to $3.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Helmerich & Payne.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.18. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The business had revenue of $720.87 million during the quarter, compared to the consensus estimate of $712.29 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year.
A number of equities research analysts recently commented on the stock. Goldman Sachs Group assumed coverage on shares of Helmerich & Payne in a research report on Sunday, March 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Jefferies Financial Group downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating and reduced their price objective for the company from $64.00 to $56.00 in a research report on Friday, March 15th. Zacks Investment Research upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Tuesday, March 19th. Susquehanna Bancshares set a $70.00 price objective on shares of Helmerich & Payne and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Piper Jaffray Companies set a $61.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $66.74.
Institutional investors have recently modified their holdings of the business. Liberty Wealth Management LLC purchased a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $26,000. Commonwealth Bank of Australia increased its stake in shares of Helmerich & Payne by 150.0% during the 1st quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $28,000. Arbor Wealth Management LLC purchased a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $30,000. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $31,000. 90.63% of the stock is owned by institutional investors.
Shares of HP traded down $1.90 during mid-day trading on Friday, hitting $49.44. 1,563,023 shares of the company’s stock were exchanged, compared to its average volume of 1,294,824. Helmerich & Payne has a fifty-two week low of $44.56 and a fifty-two week high of $73.74. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 353.14 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 2.80.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.71 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.84 dividend on an annualized basis and a yield of 5.74%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 2,028.57%.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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