Parker Drilling Company (PKD) Issues Earnings Results

Parker Drilling Company (NYSE:PKD) issued its quarterly earnings data on Wednesday. The oil and gas company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.06, Bloomberg Earnings reports. Parker Drilling had a negative return on equity of 37.32% and a negative net margin of 33.06%. The company had revenue of $118.31 million during the quarter, compared to analysts’ expectations of $119.80 million. During the same quarter in the previous year, the business earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis.

Parker Drilling (PKD) traded up $0.01 during trading on Friday, hitting $1.06. The stock had a trading volume of 731,868 shares, compared to its average volume of 829,405.

A number of equities research analysts have weighed in on PKD shares. Zacks Investment Research upgraded Parker Drilling from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Thursday, August 24th. Seaport Global Securities restated a “neutral” rating on shares of Parker Drilling in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Parker Drilling presently has an average rating of “Hold” and a consensus 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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