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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 $44.83 in the latest trading session, marking a -0.31% move from the prior day. This move lagged the S&P 500's daily gain of 1.62%. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 12.91%.

Heading into today, shares of the oil and gas well-drilling contractor had lost 2.26% over the past month, lagging the Oils-Energy sector's gain of 0.8% and outpacing the S&P 500's loss of 4.54% in that time.

Wall Street will be looking for positivity from Helmerich & Payne as it approaches its next earnings report date. In that report, analysts expect Helmerich & Payne to post earnings of $1.06 per share. This would mark year-over-year growth of 723.53%. Our most recent consensus estimate is calling for quarterly revenue of $744.3 million, up 59.17% from the year-ago period.

HP's full-year Zacks Consensus Estimates are calling for earnings of $4.68 per share and revenue of $3.04 billion. These results would represent year-over-year changes of +4580% and +47.85%, 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.

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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 4.67% higher. Helmerich & Payne is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Helmerich & Payne's current valuation metrics, including its Forward P/E ratio of 9.61. For comparison, its industry has an average Forward P/E of 9.61, which means Helmerich & Payne is trading at a no noticeable deviation to the group.

The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.

To follow HP in the coming trading sessions, be sure to utilize Zacks.com.


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