Helmerich & Payne (HP) Gains As Market Dips: What You Should Know
Helmerich & Payne (HP) closed the most recent trading day at $49.10, moving +0.33% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 6.67%.
Heading into today, shares of the oil and gas well-drilling contractor had gained 0.51% over the past month, outpacing the Oils-Energy sector's loss of 3.55% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from Helmerich & Payne as it approaches its next earnings release. In that report, analysts expect Helmerich & Payne to post earnings of $0.80 per share. This would mark year-over-year growth of 277.78%. Our most recent consensus estimate is calling for quarterly revenue of $691.28 million, up 68.7% from the year-ago period.
HP's full-year Zacks Consensus Estimates are calling for earnings of $4.46 per share and revenue of $2.99 billion. These results would represent year-over-year changes of +4360% and +45.41%, respectively.
Investors might also notice recent changes to analyst estimates for Helmerich & Payne. These revisions help to show the ever-changing nature of 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 4.27% higher within the past month. Helmerich & Payne currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Helmerich & Payne is holding a Forward P/E ratio of 10.98. This valuation marks a discount compared to its industry's average Forward P/E of 21.61.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report
