Helmerich & Payne (HP) Gains But Lags Market: What You Should Know
In the latest trading session, Helmerich & Payne (HP) closed at $46.48, marking a +0.72% move from the previous day. This change lagged the S&P 500's 0.75% gain on the day. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.
Coming into today, shares of the oil and gas well-drilling contractor had lost 1.83% in the past month. In that same time, the Oils-Energy sector lost 6.78%, while the S&P 500 lost 5.98%.
Wall Street will be looking for positivity from Helmerich & Payne as it approaches its next earnings report date. The company is expected to report EPS of $0.80, up 277.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $691.28 million, up 68.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.46 per share and revenue of $2.99 billion, which would represent changes of +4360% and +45.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Helmerich & Payne should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Helmerich & Payne is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Helmerich & Payne's current valuation metrics, including its Forward P/E ratio of 10.35. This valuation marks a premium compared to its industry's average Forward P/E of 10.06.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report
