Helmerich & Payne (NYSE:HP) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Helmerich & Payne (NYSE:HP) traded down 1.21% on Monday, hitting $67.09. Helmerich & Payne has a 52-week low of $43.76 and a 52-week high of $69.38. The stock’s 50-day moving average is currently $64.97. The company has a market cap of $7.144 billion and a price-to-earnings ratio of 10.00.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Friday, July 26th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.04. The company had revenue of $838.30 million for the quarter, compared to the consensus estimate of $844.15 million. During the same quarter in the prior year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Helmerich & Payne will post $5.56 earnings per share for the current fiscal year.
Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $67.28.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.