Parker Drilling Company (PKD) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Parker Drilling Company (NYSE:PKD) released its earnings results on Wednesday. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.06, Bloomberg Earnings reports. Parker Drilling had a negative return on equity of 43.64% and a negative net margin of 41.31%. The firm had revenue of $118.31 million during the quarter, compared to analysts’ expectations of $119.80 million. During the same quarter last year, the business posted ($0.37) earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis.

Several analysts recently issued reports on PKD shares. Zacks Investment Research cut Parker Drilling from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Seaport Global Securities reiterated a “neutral” rating on shares of Parker Drilling in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $2.63.

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About Parker Drilling

Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools and services. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes U.S. Rental Tools and International Rental Tools segments, and its Drilling Services business includes its U.S.

Earnings History for Parker Drilling (NYSE:PKD)

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