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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 at $49.51 in the latest trading session, marking a +0.36% move from the prior day. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Prior to today's trading, shares of the oil and gas well-drilling contractor had gained 3.92% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and lagged the S&P 500's gain of 4.58% 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. The company is expected to report EPS of $0.81, up 280% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $689.28 million, up 68.21% from the year-ago period.
HP's full-year Zacks Consensus Estimates are calling for earnings of $4.48 per share and revenue of $3 billion. These results would represent year-over-year changes of +4380% and +45.56%, respectively.
Investors might also notice recent changes to analyst estimates for Helmerich & Payne. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. Helmerich & Payne currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Helmerich & Payne currently has a Forward P/E ratio of 11.02. This valuation marks a premium compared to its industry's average Forward P/E of 10.79.
Also, we should mention that HP has a PEG ratio of 0.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Drilling was holding an average PEG ratio of 0.21 at yesterday's closing price.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 9, putting 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.
Be sure to follow all of these stock-moving metrics, and many 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 at $49.51 in the latest trading session, marking a +0.36% move from the prior day. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Prior to today's trading, shares of the oil and gas well-drilling contractor had gained 3.92% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and lagged the S&P 500's gain of 4.58% 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. The company is expected to report EPS of $0.81, up 280% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $689.28 million, up 68.21% from the year-ago period.
HP's full-year Zacks Consensus Estimates are calling for earnings of $4.48 per share and revenue of $3 billion. These results would represent year-over-year changes of +4380% and +45.56%, respectively.
Investors might also notice recent changes to analyst estimates for Helmerich & Payne. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. Helmerich & Payne currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Helmerich & Payne currently has a Forward P/E ratio of 11.02. This valuation marks a premium compared to its industry's average Forward P/E of 10.79.
Also, we should mention that HP has a PEG ratio of 0.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Drilling was holding an average PEG ratio of 0.21 at yesterday's closing price.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 9, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.