Zacks: Analysts Expect Helmerich & Payne, Inc. (HP) Will Announce Quarterly Sales of $713.96 Million

Analysts predict that Helmerich & Payne, Inc. (NYSE:HP) will announce $713.96 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Helmerich & Payne’s earnings. The lowest sales estimate is $703.00 million and the highest is $723.80 million. Helmerich & Payne reported sales of $577.48 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.6%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that Helmerich & Payne will report full year sales of $2.89 billion for the current year, with estimates ranging from $2.84 billion to $2.98 billion. For the next year, analysts forecast that the company will post sales of $3.09 billion, with estimates ranging from $2.93 billion to $3.55 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Helmerich & Payne.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Tuesday, January 29th. The oil and gas company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. The business had revenue of $740.60 million during the quarter, compared to the consensus estimate of $716.12 million. Helmerich & Payne had a net margin of 0.06% and a return on equity of 1.18%.

A number of analysts have issued reports on HP shares. Zacks Investment Research downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Piper Jaffray Companies set a $61.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Thursday, April 4th. Jefferies Financial Group downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating and cut their price objective for the company from $64.00 to $56.00 in a report on Friday, March 15th. Macquarie set a $45.00 price objective on shares of Helmerich & Payne and gave the company a “sell” rating in a report on Tuesday, February 5th. Finally, Seaport Global Securities reissued a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $66.47.

Institutional investors have recently modified their holdings of the company. Liberty Wealth Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $26,000. Arbor Wealth Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $30,000. Capital Investment Advisory Services LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $31,000. CSat Investment Advisory L.P. lifted its holdings in shares of Helmerich & Payne by 41.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 679 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 199 shares during the period. Finally, First Mercantile Trust Co. lifted its holdings in shares of Helmerich & Payne by 43.3% during the 4th quarter. First Mercantile Trust Co. now owns 960 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 290 shares during the period. 93.71% of the stock is owned by institutional investors.

Shares of HP stock opened at $62.52 on Monday. The stock has a market cap of $6.84 billion, a P/E ratio of 446.57 and a beta of 1.51. The company has a quick ratio of 2.29, a current ratio of 2.70 and a debt-to-equity ratio of 0.11. Helmerich & Payne has a 52 week low of $44.56 and a 52 week high of $73.90.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, May 10th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 2,028.57%.

About Helmerich & Payne

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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Earnings History and Estimates for Helmerich & Payne (NYSE:HP)

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