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Helmerich & Payne (HP) Stock Sinks As Market Gains: What You Should Know
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Helmerich & Payne (HP - Free Report) closed at $48.62 in the latest trading session, marking a -0.65% move from the prior day. This change lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Heading into today, shares of the oil and gas well-drilling contractor had gained 1.14% over the past month, lagging the Oils-Energy sector's gain of 4.41% and outpacing the S&P 500's loss of 0.23% in that time.
Wall Street will be looking for positivity from Helmerich & Payne as it approaches its next earnings report date. This is expected to be January 30, 2023. In that report, analysts expect Helmerich & Payne to post earnings of $0.81 per share. This would mark year-over-year growth of 280%. Meanwhile, our latest consensus estimate is calling for revenue of $689.28 million, up 68.21% from the prior-year quarter.
HP's full-year Zacks Consensus Estimates are calling for earnings of $4.47 per share and revenue of $3 billion. These results would represent year-over-year changes of +4370% and +45.56%, respectively.
Investors might also notice recent changes to analyst estimates for Helmerich & Payne. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.31% higher. Helmerich & Payne currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Helmerich & Payne has a Forward P/E ratio of 10.94 right now. For comparison, its industry has an average Forward P/E of 10.7, which means Helmerich & Payne is trading at a premium to the group.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 (HP) Stock Sinks As Market Gains: What You Should Know
Helmerich & Payne (HP - Free Report) closed at $48.62 in the latest trading session, marking a -0.65% move from the prior day. This change lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Heading into today, shares of the oil and gas well-drilling contractor had gained 1.14% over the past month, lagging the Oils-Energy sector's gain of 4.41% and outpacing the S&P 500's loss of 0.23% in that time.
Wall Street will be looking for positivity from Helmerich & Payne as it approaches its next earnings report date. This is expected to be January 30, 2023. In that report, analysts expect Helmerich & Payne to post earnings of $0.81 per share. This would mark year-over-year growth of 280%. Meanwhile, our latest consensus estimate is calling for revenue of $689.28 million, up 68.21% from the prior-year quarter.
HP's full-year Zacks Consensus Estimates are calling for earnings of $4.47 per share and revenue of $3 billion. These results would represent year-over-year changes of +4370% and +45.56%, respectively.
Investors might also notice recent changes to analyst estimates for Helmerich & Payne. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.31% higher. Helmerich & Payne currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Helmerich & Payne has a Forward P/E ratio of 10.94 right now. For comparison, its industry has an average Forward P/E of 10.7, which means Helmerich & Payne is trading at a premium to the group.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.