Global Hunter Securities Downgrades Helmerich & Payne (HP) to Neutral; Shares Fairly Valued
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Price: $44.20 +2.62%
Rating Summary:
18 Buy, 15 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 15 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Global Hunter Securities downgraded Helmerich & Payne (NYSE: HP) from Accumulate to Neutral, price target cut from $70 to $65.
Analyst, Brian Uhlmer, said, "We believe that the market is fairly valuing the stock at its current multiple; HP (and the industry as a whole) will be unable to repeat the newbuild awards won in 2012, thus slowing growth; and the tepid macro outlook likely persists until the E&P's economics improve, limiting investor sponsorship for the land drillers."
"Our F2012 and F2013 EPS estimates are now $5.19 (+11c) and $5.95 (-15c), with our EBITDA estimates for both years moving just 1%-2%."
For an analyst ratings summary and ratings history on Helmerich & Payne click here. For more ratings news on Helmerich & Payne click here.
Shares of Helmerich & Payne closed at $60.33 yesterday.
Analyst, Brian Uhlmer, said, "We believe that the market is fairly valuing the stock at its current multiple; HP (and the industry as a whole) will be unable to repeat the newbuild awards won in 2012, thus slowing growth; and the tepid macro outlook likely persists until the E&P's economics improve, limiting investor sponsorship for the land drillers."
"Our F2012 and F2013 EPS estimates are now $5.19 (+11c) and $5.95 (-15c), with our EBITDA estimates for both years moving just 1%-2%."
For an analyst ratings summary and ratings history on Helmerich & Payne click here. For more ratings news on Helmerich & Payne click here.
Shares of Helmerich & Payne closed at $60.33 yesterday.
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