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Helmerich & Payne (HP) Gains But Lags Market: What You Should Know

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Helmerich & Payne (HP) closed at $42.86 in the latest trading session, marking a +0.49% move from the prior day. The stock lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.07%.

Heading into today, shares of the oil and gas well-drilling contractor had gained 4.36% over the past month, outpacing the Oils-Energy sector's gain of 0.29% and lagging the S&P 500's gain of 7.25% in that time.

Wall Street will be looking for positivity from Helmerich & Payne as it approaches its next earnings report date. This is expected to be July 28, 2022. In that report, analysts expect Helmerich & Payne to post earnings of $0.05 per share. This would mark year-over-year growth of 108.77%. Meanwhile, our latest consensus estimate is calling for revenue of $512.57 million, up 54.29% from the prior-year quarter.

HP's full-year Zacks Consensus Estimates are calling for earnings of -$0.31 per share and revenue of $1.94 billion. These results would represent year-over-year changes of +88.08% and +59.06%, respectively.

Investors should also note any recent changes to analyst estimates for Helmerich & Payne. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.55% higher within the past month. Helmerich & Payne is currently sporting a Zacks Rank of #3 (Hold).

The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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