StockNews.com cut shares of Independence Contract Drilling (NYSE:ICD – Free Report) from a hold rating to a sell rating in a research note released on Friday morning.
Independence Contract Drilling Price Performance
Shares of ICD opened at $1.87 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.04. The company’s fifty day moving average price is $1.84 and its 200-day moving average price is $2.18. Independence Contract Drilling has a 1-year low of $1.61 and a 1-year high of $3.45. The firm has a market capitalization of $28.55 million, a PE ratio of -0.70 and a beta of 4.91.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.15). Independence Contract Drilling had a negative net margin of 17.94% and a negative return on equity of 6.12%. The firm had revenue of $45.83 million for the quarter, compared to analysts’ expectations of $43.89 million. On average, equities research analysts predict that Independence Contract Drilling will post -2.59 EPS for the current year.
Institutional Trading of Independence Contract Drilling
Independence Contract Drilling Company Profile
Independence Contract Drilling, Inc provides land-based contract drilling services for oil and natural gas producers in the United States. It operates a fleet of pad-optimal and superspec AC powered rigs in the Permian Basin and the Haynesville Shale. The company was incorporated in 2011 and is headquartered in Houston, Texas.
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