[Capital Cube] Parker Drilling Co (NYSE:PKD)(TREND ANALYSIS) Revenues of USD 185.94 million, Net Earnings of USD -14.03 million, and Earnings per Share (EPS) of USD -0.11.
Gross margins narrowed from 17.10% to 2.16% compared to the same quarter last year, operating (EBITDA) margins now 17.67% from 29.17%.
Change in operating cash flow of -50.16% compared to same quarter last year is about the same as change in earnings, likely no significant movement in accruals or reserves.
Narrowing of operating margins contributed to decline in earnings.
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Parker Drilling Co (NYSE:PKD) stock is currently trading 38.11% below its 52-week-high, 34.62% above its 52-week-low. The 1-year stock price history is in the range of $2.34 – $5.09. Parker Drilling Co (PKD) has a price to earnings ratio of 44.37 versus Basic Materials sector average of 17.21. PKD stock price has outperformed the S&P 500 by 3.1%. The Oil & Gas Drilling company is currently valued at $0.39 billion and its share price closed the last trading session at $3.15. The stock has a 50-day moving average of $2.92 and a 200-day moving average of $3.25.
Parker Drilling Co (PKD) current short interest stands at 4.16 million shares. It has increased by 2% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.89 million shares, the number of days required to cover the short positions stand at 4.7 days.
The company is expected to announce next quarter earnings on November 04, at consensus estimate of $-0.12. Parker Drilling Co (PKD) reported last quarter earnings on August 04. The Oil & Gas Drilling company announced earnings per share of $-0.1 against a consensus Street estimate of $-0.11, beating the average estimate by $0.01. This corresponds to a decrease of $0.23 compared to the same quarter of the previous fiscal year.
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There are currently seven analysts that cover Parker Drilling Co stock. Of those seven, three have a Buy rating, four have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $3.9.
A recent analyst activity consisted of Sidoti& Co. upgrading their Neutral rating to Buy on September 23. Sidoti& Co. set their price target at $5. This corresponds to a 58.73% upside from the last closing price. On the date of report, the stock closed at $2.68.
Evercore ISI upgraded their rating to Buy on August 18, and increased their price target on PKD stock from $4 to $5.5. This corresponds to a 74.6% upside from the last closing price. On the date of report, the stock closed at $2.91.
Parker Drilling Co (PKD) has a debt to equity ratio of 93% compared to Basic Materials sector average of 46.8%. The company has a current ratio of 2.35. This ratio should be higher than one (ideally two) and is an indicator to show if the company is able to finance its short term obligations. Indeed it should have higher short term assets to dispose in order to cover for its short term liabilities.
Company profile
Parker Drilling Company provides offshore and onshore contract drilling and drilling-related services. The Company offers drilling services, rental tools, and project management, including rig design, construction, and operations management. Parker Drilling services the energy industry worldwide.
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