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Helmerich & Payne (HP) Gains But Lags Market: What You Should Know

Helmerich & Payne (HP) closed at $37.54 in the latest trading session, marking a +0.86% move from the prior day. This change lagged the S&P 500's 1.68% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.

Coming into today, shares of the oil and gas well-drilling contractor had lost 19.03% in the past month. In that same time, the Oils-Energy sector lost 8.65%, while the S&P 500 lost 6.68%.

Wall Street will be looking for positivity from Helmerich & Payne as it approaches its next earnings report date. On that day, Helmerich & Payne is projected to report earnings of $1.06 per share, which would represent year-over-year growth of 723.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $744.3 million, up 59.17% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.68 per share and revenue of $3.04 billion. These totals would mark changes of +4580% and +47.85%, respectively, from last year.

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Investors should also note any 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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. Within the past 30 days, our consensus EPS projection has moved 0.45% lower. Helmerich & Payne is currently a Zacks Rank #3 (Hold).

Looking at its valuation, Helmerich & Payne is holding a Forward P/E ratio of 7.96. This represents a discount compared to its industry's average Forward P/E of 8.68.

The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report

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