Parker Drilling Company Second Quarter Earnings Sneak Peek
By Derek Hoffman |
July 30, 2012
Parker Drilling Company (NYSE:PKD) will unveil its latest earnings on Thursday, August 2, 2012. Parker Drilling provides land and offshore contract drilling services and rental tools on a worldwide basis to independent and national oil and gas companies and integrated service providers.
Parker Drilling Company Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 19 cents per share, a rise of 35.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 18 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 19 cents during the last month. Analysts are projecting profit to rise by 44.4% compared to last year’s 78 cents.
Past Earnings Performance: Last quarter, the company beat estimates by 5 cents, coming in at profit of 22 cents a share versus the estimate of net income of 17 cents a share. It marked the fourth straight quarter of beating estimates.
A Look Back: In the first quarter, profit rose more than fivefold to $26.4 million (22 cents a share) from $4.8 million (4 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 13.1% to $176.6 million from $156.2 million.
Stock Price Performance: Between May 2, 2012 and July 27, 2012, the stock price fell 77 cents (-14%), from $5.49 to $4.72. The stock price saw one of its best stretches over the last year between June 26, 2012 and July 3, 2012, when shares rose for six straight days, increasing 14.1% (+60 cents) over that span. It saw one of its worst periods between April 2, 2012 and April 10, 2012 when shares fell for six straight days, dropping 12.6% (-78 cents) over that span.
Wall St. Revenue Expectations: Analysts predict a rise of 6.7% in revenue from the year-earlier quarter to $184.3 million.
Key Stats:
On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 10.4% in the second quarter of the last fiscal year, 2.7% in the third quarter of the last fiscal year and 4.5% in the fourth quarter of the last fiscal year before increasing again in the first quarter.
Analyst Ratings: With four analysts rating the stock a buy, none rating it a sell and one rating the stock a hold, there are indications of a bullish stance by analysts.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.27 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.
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