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Helmerich & Payne (HP) Dips More Than Broader Markets: What You Should Know

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Helmerich & Payne (HP - Free Report) closed the most recent trading day at $39.40, moving -0.98% from the previous trading session. This change lagged the S&P 500's daily loss of 0.93%. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq lost 0.17%.

Heading into today, shares of the oil and gas well-drilling contractor had gained 3.81% over the past month, outpacing the Oils-Energy sector's loss of 4.39% and lagging the S&P 500's gain of 6.31% in that time.

Investors will be hoping for strength from Helmerich & Payne as it approaches its next earnings release, which is expected to be July 28, 2022. In that report, analysts expect Helmerich & Payne to post earnings of $0.05 per share. This would mark year-over-year growth of 108.77%. Our most recent consensus estimate is calling for quarterly revenue of $512.57 million, up 54.29% from the year-ago period.

HP's full-year Zacks Consensus Estimates are calling for earnings of -$0.31 per share and revenue of $1.94 billion. These results would represent year-over-year changes of +88.08% and +59.06%, respectively.

It is also important to note the recent changes to analyst estimates for Helmerich & Payne. These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.55% higher. Helmerich & Payne is currently a Zacks Rank #3 (Hold).

The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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