Helmerich & Payne, Inc. (NYSE:HP) Expected to Post FY2024 Earnings of $3.48 Per Share

by · The Cerbat Gem

Helmerich & Payne, Inc. (NYSE:HP – Free Report) – Research analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Helmerich & Payne in a report issued on Monday, September 30th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings per share of $3.48 for the year, up from their previous forecast of $3.47. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.48 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.75 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.70 EPS, Q2 2026 earnings at $0.69 EPS, Q3 2026 earnings at $0.78 EPS, Q4 2026 earnings at $0.78 EPS and FY2026 earnings at $3.05 EPS.

Several other research analysts also recently commented on HP. Citigroup cut their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Bank of America cut their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. The Goldman Sachs Group cut their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Royal Bank of Canada lifted their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $40.88.

Check Out Our Latest Analysis on HP

Helmerich & Payne Trading Up 3.7 %

Shares of HP opened at $33.45 on Wednesday. The business has a 50-day moving average of $33.38 and a 200 day moving average of $36.72. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.80. The firm has a market cap of $3.30 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12.

Helmerich & Payne (NYSE:HP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same quarter last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. Helmerich & Payne’s dividend payout ratio is 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

A number of large investors have recently modified their holdings of HP. Headlands Technologies LLC purchased a new position in Helmerich & Payne in the 1st quarter worth approximately $33,000. Hexagon Capital Partners LLC increased its stake in Helmerich & Payne by 514.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares during the period. Covestor Ltd increased its stake in Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the period. Whittier Trust Co. increased its stake in shares of Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the period. Finally, Creekmur Asset Management LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $60,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

About Helmerich & Payne

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Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.

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