Parker Drilling Co. (NYSE:PKD) – Investment analysts at DA Davidson issued their Q3 2016 earnings per share estimates for shares of Parker Drilling in a research report issued on Wednesday. DA Davidson analyst S. Randhawa expects that the firm will earn ($0.42) per share for the quarter. DA Davidson has a “Buy” rating and a $3.50 price target on the stock. DA Davidson also issued estimates for Parker Drilling’s Q4 2016 earnings at ($0.39) EPS, FY2016 earnings at ($1.32) EPS, Q1 2017 earnings at ($0.26) EPS, Q2 2017 earnings at ($0.23) EPS, Q3 2017 earnings at ($0.18) EPS, Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at ($0.81) EPS and FY2018 earnings at ($0.10) EPS.
Parker Drilling (NYSE:PKD) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.03. The business had revenue of $105.30 million for the quarter, compared to analysts’ expectations of $105.80 million. Parker Drilling had a negative net margin of 39.42% and a negative return on equity of 18.78%. The business’s revenue for the quarter was down 43.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS.
Several other analysts also recently weighed in on PKD. Zacks Investment Research upgraded Parker Drilling from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Macquarie downgraded Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 target price for the company. in a research report on Tuesday, August 9th. Nomura set a $4.00 target price on Parker Drilling and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Seaport Global Securities reiterated a “neutral” rating on shares of Parker Drilling in a research report on Friday, August 19th. Finally, Evercore ISI restated a “buy” rating and issued a $3.50 price objective on shares of Parker Drilling in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.80.
Parker Drilling (NYSE:PKD) opened at 2.35 on Monday. The firm’s 50-day moving average is $2.18 and its 200 day moving average is $2.30. Parker Drilling has a 1-year low of $0.98 and a 1-year high of $3.33. The company’s market cap is $291.64 million.
A number of institutional investors have recently bought and sold shares of PKD. Phoenix Investment Adviser LLC bought a new position in Parker Drilling during the second quarter valued at about $105,000. Engineers Gate Manager LP bought a new position in Parker Drilling during the second quarter valued at about $120,000. Emerald Acquisition Ltd. bought a new position in Parker Drilling during the second quarter valued at about $138,000. Alambic Investment Management L.P. raised its position in Parker Drilling by 6.5% in the second quarter. Alambic Investment Management L.P. now owns 68,510 shares of the company’s stock valued at $157,000 after buying an additional 4,200 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Parker Drilling during the second quarter valued at about $169,000. Institutional investors own 64.37% of the company’s stock.
In related news, Chairman Gary G. Rich bought 80,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were bought at an average price of $2.18 per share, for a total transaction of $174,400.00. Following the completion of the purchase, the chairman now directly owns 719,903 shares of the company’s stock, valued at $1,569,388.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.68% of the stock is owned by corporate insiders.
Parker Drilling Company Profile
Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes its Rental Tools segment, and its Drilling Services business includes its U.S.
Receive News & Ratings for Parker Drilling Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker Drilling Co. and related companies with MarketBeat.com's FREE daily email newsletter.