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.
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