Equities analysts expect Atwood Oceanics, Inc. (NYSE:ATW) to announce $124.43 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Atwood Oceanics’ earnings, with the highest sales estimate coming in at $125.50 million and the lowest estimate coming in at $123.80 million. Atwood Oceanics reported sales of $227.80 million during the same quarter last year, which indicates a negative year-over-year growth rate of 45.4%. The firm is expected to issue its next quarterly earnings report on Monday, August 7th.
On average, analysts expect that Atwood Oceanics will report full-year sales of $124.43 million for the current financial year, with estimates ranging from $501.60 million to $520.00 million. For the next year, analysts expect that the firm will report sales of $299.57 million per share, with estimates ranging from $246.60 million to $351.56 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Atwood Oceanics.
Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Monday, May 8th. The offshore driller reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.66. The business had revenue of $167.71 million for the quarter, compared to analysts’ expectations of $130.51 million. Atwood Oceanics had a return on equity of 4.35% and a net margin of 11.40%. Atwood Oceanics’s quarterly revenue was down 43.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share.
A number of equities analysts have commented on the company. Wood & Company upgraded Atwood Oceanics from an “accumulate” rating to a “buy” rating in a research note on Friday, April 28th. Clarkson Capital raised Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Friday, May 12th. ValuEngine raised Atwood Oceanics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. DNB Markets raised Atwood Oceanics from a “sell” rating to a “hold” rating in a report on Friday, May 19th. Finally, Jefferies Group LLC set a $10.00 price objective on Atwood Oceanics and gave the company a “hold” rating in a report on Wednesday, May 17th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Atwood Oceanics currently has an average rating of “Hold” and an average price target of $11.81.
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Several hedge funds and other institutional investors have recently made changes to their positions in ATW. Everence Capital Management Inc. acquired a new position in shares of Atwood Oceanics during the first quarter worth about $104,000. Brandes Investment Partners LP acquired a new position in shares of Atwood Oceanics during the first quarter worth about $117,000. Municipal Employees Retirement System of Michigan increased its position in shares of Atwood Oceanics by 20.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,640 shares of the offshore driller’s stock worth $159,000 after buying an additional 2,880 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock worth $163,000 after buying an additional 3,416 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Atwood Oceanics by 32.9% in the first quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock worth $167,000 after buying an additional 4,329 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.
Atwood Oceanics (ATW) traded up 4.79% during mid-day trading on Friday, hitting $8.54. The stock had a trading volume of 3,641,939 shares. The stock’s 50 day moving average price is $8.92 and its 200 day moving average price is $10.26. Atwood Oceanics has a one year low of $6.12 and a one year high of $15.37. The firm has a market capitalization of $687.63 million, a price-to-earnings ratio of 6.90 and a beta of 2.38.
Atwood Oceanics Company Profile
Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.
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