Wall Street analysts expect Helmerich & Payne (HP) to post quarterly earnings of $0.26 per share in its upcoming report, which indicates a year-over-year decline of 65.8%. Revenues are expected to be $975.66 million, up 40.6% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 7.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Helmerich & Payne metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Operating Revenues- North America Solutions' will reach $554.59 million. The estimate indicates a change of -10.3% from the prior-year quarter.
The consensus among analysts is that 'Operating revenues - Offshore Solutions' will reach $161.29 million. The estimate points to a change of +485.5% from the year-ago quarter.
The consensus estimate for 'Operating Revenues- International Solutions' stands at $237.54 million. The estimate points to a change of +422.5% from the year-ago quarter.
Analysts expect 'Operating Revenues- Drilling services' to come in at $959.21 million. The estimate points to a change of +38.8% from the year-ago quarter.
According to the collective judgment of analysts, 'Average active rigs - North America Solutions' should come in at 141 . The estimate compares to the year-ago value of 151 .
The collective assessment of analysts points to an estimated 'Average active rigs - Offshore Solutions' of 3 . The estimate is in contrast to the year-ago figure of 3 .
The combined assessment of analysts suggests that 'Number of available rigs at the end of period - Offshore Solutions' will likely reach 7 . The estimate is in contrast to the year-ago figure of 7 .
Analysts' assessment points toward 'Number of available rigs at the end of period - International Solutions' reaching 137 . Compared to the present estimate, the company reported 27 in the same quarter last year.
Analysts forecast 'Number of available rigs at the end of period - North America Solutions' to reach 223 . Compared to the current estimate, the company reported 228 in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Average active rigs - International Solutions' should arrive at 64 . The estimate is in contrast to the year-ago figure of 15 .
It is projected by analysts that the 'Segment operating income (loss)- North America Solutions' will reach $133.56 million. Compared to the present estimate, the company reported $155.70 million in the same quarter last year.
The average prediction of analysts places 'Segment operating income - Offshore Solutions' at $14.90 million. Compared to the present estimate, the company reported $4.28 million in the same quarter last year.
View all Key Company Metrics for Helmerich & Payne here>>>
Helmerich & Payne shares have witnessed a change of +15% in the past month, in contrast to the Zacks S&P 500 composite's +4.6% move. With a Zacks Rank #4 (Sell), HP is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Helmerich & Payne, Inc. (HP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
