-$0.30 Earnings Per Share Expected for Atwood Oceanics, Inc. (ATW) This Quarter

Equities research analysts expect that Atwood Oceanics, Inc. (NYSE:ATW) will post earnings of ($0.30) per share for the current quarter, according to Zacks. Five analysts have issued estimates for Atwood Oceanics’ earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.39). Atwood Oceanics posted earnings of $1.89 per share during the same quarter last year, which would indicate a negative year over year growth rate of 115.9%. The firm is scheduled to report its next earnings results after the market closes on Monday, May 8th.

On average, analysts expect that Atwood Oceanics will report full-year earnings of ($0.66) per share for the current fiscal year, with EPS estimates ranging from ($1.13) to ($0.12). For the next year, analysts expect that the company will report earnings of ($3.09) per share, with EPS estimates ranging from ($4.00) to ($1.90). Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Atwood Oceanics.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Friday, February 3rd. The offshore driller reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company earned $157.56 million during the quarter, compared to analyst estimates of $154.93 million. Atwood Oceanics had a net margin of 27.10% and a return on equity of 7.38%. Atwood Oceanics’s revenue was down 48.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share.

A number of equities research analysts have weighed in on the company. BMO Capital Markets set a $9.00 price target on Atwood Oceanics and gave the company a “sell” rating in a research report on Thursday, January 12th. Vetr upgraded Atwood Oceanics from a “strong sell” rating to a “hold” rating and set a $14.10 price target on the stock in a research report on Thursday, January 12th. TheStreet upgraded Atwood Oceanics from a “sell” rating to a “hold” rating in a research report on Friday, December 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $13.00 price objective (up from $8.00) on shares of Atwood Oceanics in a research note on Friday, December 23rd. Finally, Oppenheimer Holdings Inc. started coverage on Atwood Oceanics in a research note on Friday, January 6th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.36.

Shares of Atwood Oceanics (NYSE:ATW) traded up 0.38% during trading on Tuesday, reaching $7.97. The company’s stock had a trading volume of 3,515,791 shares. The stock has a 50-day moving average of $9.14 and a 200-day moving average of $10.33. The stock has a market cap of $641.34 million, a P/E ratio of 2.19 and a beta of 2.26. Atwood Oceanics has a 52-week low of $6.12 and a 52-week high of $15.37.

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Institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its position in Atwood Oceanics by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 45,600 shares of the offshore driller’s stock valued at $396,000 after buying an additional 230 shares during the last quarter. Arizona State Retirement System raised its position in shares of Atwood Oceanics by 3.0% in the third quarter. Arizona State Retirement System now owns 31,200 shares of the offshore driller’s stock worth $271,000 after buying an additional 900 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Atwood Oceanics by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 158,195 shares of the offshore driller’s stock worth $2,077,000 after buying an additional 900 shares during the last quarter. Capital One National Association raised its position in shares of Atwood Oceanics by 3.7% in the third quarter. Capital One National Association now owns 33,351 shares of the offshore driller’s stock worth $290,000 after buying an additional 1,203 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Atwood Oceanics by 3.8% in the first quarter. Capstone Asset Management Co. now owns 35,099 shares of the offshore driller’s stock worth $334,000 after buying an additional 1,270 shares during the last quarter. Hedge funds and other institutional investors own 90.62% of the company’s stock.

Atwood Oceanics Company Profile

Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.

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