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Helmerich & Payne (HP) Gains But Lags Market: What You Should Know
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Helmerich & Payne (HP - Free Report) closed the most recent trading day at $46.92, moving +0.04% from the previous trading session. This change lagged the S&P 500's 1.89% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.
Coming into today, shares of the oil and gas well-drilling contractor had gained 0.62% in the past month. In that same time, the Oils-Energy sector gained 5.98%, while the S&P 500 gained 2.3%.
Investors will be hoping for strength from Helmerich & Payne as it approaches its next earnings release, which 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, the Zacks Consensus Estimate for revenue is projecting net sales of $689.28 million, up 68.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.48 per share and revenue of $3 billion. These totals would mark changes of +4380% and +45.56%, respectively, from last year.
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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Helmerich & Payne is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Helmerich & Payne currently has a Forward P/E ratio of 10.48. For comparison, its industry has an average Forward P/E of 10.48, which means Helmerich & Payne is trading at a no noticeable deviation to the group.
It is also worth noting that HP currently has a PEG ratio of 0.2. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Drilling stocks are, on average, holding a PEG ratio of 0.2 based on yesterday's closing prices.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Helmerich & Payne (HP) Gains But Lags Market: What You Should Know
Helmerich & Payne (HP - Free Report) closed the most recent trading day at $46.92, moving +0.04% from the previous trading session. This change lagged the S&P 500's 1.89% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.
Coming into today, shares of the oil and gas well-drilling contractor had gained 0.62% in the past month. In that same time, the Oils-Energy sector gained 5.98%, while the S&P 500 gained 2.3%.
Investors will be hoping for strength from Helmerich & Payne as it approaches its next earnings release, which 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, the Zacks Consensus Estimate for revenue is projecting net sales of $689.28 million, up 68.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.48 per share and revenue of $3 billion. These totals would mark changes of +4380% and +45.56%, respectively, from last year.
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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Helmerich & Payne is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Helmerich & Payne currently has a Forward P/E ratio of 10.48. For comparison, its industry has an average Forward P/E of 10.48, which means Helmerich & Payne is trading at a no noticeable deviation to the group.
It is also worth noting that HP currently has a PEG ratio of 0.2. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Drilling stocks are, on average, holding a PEG ratio of 0.2 based on yesterday's closing prices.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.