Parker Drilling Co. (NYSE:PKD) – Investment analysts at DA Davidson issued their Q3 2016 EPS estimates for shares of Parker Drilling in a report released on Wednesday. DA Davidson analyst S. Randhawa forecasts that the brokerage will post earnings per share of ($0.42) for the quarter. DA Davidson has a “Buy” rating and a $3.50 price objective 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.
A number of other research firms also recently issued reports on PKD. Macquarie downgraded shares of Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 price target for the company. in a research report on Tuesday, August 9th. Nomura set a $4.00 price target on shares of Parker Drilling and gave the company 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. Edward Jones upgraded shares of Parker Drilling from a “hold” rating to a “buy” rating in a research report on Wednesday, August 31st. Finally, Evercore ISI reiterated a “buy” rating and set a $3.50 price target on shares of Parker Drilling in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $2.80.
Parker Drilling (NYSE:PKD) opened at 2.35 on Monday. The firm’s 50-day moving average price is $2.18 and its 200-day moving average price is $2.30. The firm’s market capitalization is $291.64 million. Parker Drilling has a 1-year low of $0.98 and a 1-year high of $3.33.
Parker Drilling (NYSE:PKD) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.03. The company earned $105.30 million during the quarter, compared to analyst estimates of $105.80 million. Parker Drilling had a negative return on equity of 18.78% and a negative net margin of 39.42%. The firm’s revenue for the quarter was down 43.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) earnings per share.
In other news, Chairman Gary G. Rich bought 80,000 shares of the stock in a transaction on Thursday, September 1st. The stock was purchased at an average cost of $2.18 per share, with a total value of $174,400.00. Following the purchase, the chairman now owns 719,903 shares of the company’s stock, valued at $1,569,388.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.68% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Phoenix Investment Adviser LLC purchased a new stake in Parker Drilling during the second quarter valued at approximately $105,000. Engineers Gate Manager LP purchased a new stake in Parker Drilling during the second quarter valued at approximately $120,000. Emerald Acquisition Ltd. purchased a new stake in Parker Drilling during the second quarter valued at approximately $138,000. Alambic Investment Management L.P. boosted its stake 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 last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Parker Drilling during the second quarter valued at approximately $169,000. 64.37% of the stock is owned by hedge funds and other institutional investors.
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.
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