Equities research analysts expect Independence Contract (NYSE:ICD) to announce earnings per share of ($0.12) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Independence Contract’s earnings, with the lowest EPS estimate coming in at ($0.13) and the highest estimate coming in at ($0.10). Independence Contract posted earnings of ($0.14) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, April 26th.
On average, analysts expect that Independence Contract will report full-year earnings of ($0.28) per share for the current financial year, with EPS estimates ranging from ($0.34) to ($0.23). For the next year, analysts anticipate that the company will report earnings of $0.04 per share, with EPS estimates ranging from ($0.16) to $0.21. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Independence Contract.
Independence Contract (NYSE:ICD) last announced its earnings results on Monday, February 26th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The company had revenue of $25.04 million during the quarter, compared to analysts’ expectations of $24.43 million. Independence Contract had a negative net margin of 27.00% and a negative return on equity of 8.24%. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) earnings per share.
A number of brokerages recently weighed in on ICD. B. Riley set a $8.00 target price on shares of Independence Contract and gave the company a “buy” rating in a research note on Monday, March 26th. Zacks Investment Research downgraded shares of Independence Contract from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Cowen set a $6.00 price target on shares of Independence Contract and gave the company a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada set a $6.00 price target on shares of Independence Contract and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, TheStreet upgraded shares of Independence Contract from a “d” rating to a “c-” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.25.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its position in Independence Contract by 981.2% during the fourth quarter. Millennium Management LLC now owns 187,047 shares of the oil and gas company’s stock valued at $744,000 after acquiring an additional 169,747 shares during the last quarter. Lafitte Capital Management LP grew its position in Independence Contract by 126.9% during the fourth quarter. Lafitte Capital Management LP now owns 471,394 shares of the oil and gas company’s stock valued at $1,876,000 after acquiring an additional 263,673 shares during the last quarter. Two Sigma Investments LP bought a new position in Independence Contract during the fourth quarter valued at approximately $107,000. Deutsche Bank AG grew its position in Independence Contract by 63.9% during the fourth quarter. Deutsche Bank AG now owns 105,410 shares of the oil and gas company’s stock valued at $418,000 after acquiring an additional 41,112 shares during the last quarter. Finally, Napier Park Global Capital US LP grew its position in Independence Contract by 142.3% during the fourth quarter. Napier Park Global Capital US LP now owns 315,000 shares of the oil and gas company’s stock valued at $1,256,000 after acquiring an additional 185,000 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
ICD traded up $0.09 on Tuesday, reaching $4.30. The company had a trading volume of 69,793 shares, compared to its average volume of 141,189. The company has a market capitalization of $161.92, a P/E ratio of -8.11 and a beta of 2.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.62 and a quick ratio of 1.47. Independence Contract has a 52-week low of $2.72 and a 52-week high of $5.48.
Independence Contract Company Profile
Independence Contract Drilling, Inc provides land-based contract drilling services for oil and natural gas producers in the United States. The company constructs, owns, and operates a fleet of pad-optimal ShaleDriller rigs that are engineered and designed to optimize the development of various oil and natural gas properties in the Permian Basin.
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