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Can Helmerich & Payne (HP) Run Higher on Strong Earnings Estimate Revisions?

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Match Group Looks Promising on Upbeat Q3: Should You Hold?

Match Group (MTCH) is benefiting from increasing subscriber addition in the form of membership subscriptions.

Helmerich & Payne, Inc. HP is a leading drilling contractor for oil and gas exploration and production companies that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on HP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Helmerich & Payne could be a solid choice for investors.

Current Quarter Estimates for HP

In the past 30 days, two estimates have gone higher for Helmerich & Payne while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 13 cents a share 30 days ago, to 18 cents today, a move of 38.5%.

Current Year Estimates for HP

Meanwhile, Helmerich & Payne’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 2 cents per share 30 days ago to 11 cents per share today, a significant increase.

Helmerich & Payne, Inc. Price and Consensus

Helmerich & Payne, Inc. Price and Consensus | Helmerich & Payne, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 13.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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