Seadrill (NYSE:SDRL) Issues Quarterly Earnings Results, Misses Expectations By $0.68 EPS

Seadrill (NYSE:SDRL) released its earnings results on Tuesday. The oil and gas company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.68), FiscalAI reports. The business had revenue of $428.00 million during the quarter, compared to analyst estimates of $382.66 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%.

Seadrill Trading Down 3.0%

SDRL traded down $1.45 during mid-day trading on Tuesday, reaching $46.28. The stock had a trading volume of 629,690 shares, compared to its average volume of 779,530. The firm’s fifty day simple moving average is $47.81 and its two-hundred day simple moving average is $45.00. The stock has a market capitalization of $2.89 billion, a P/E ratio of 1,542.73 and a beta of 1.25. Seadrill has a 52 week low of $28.10 and a 52 week high of $55.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Analyst Ratings Changes

SDRL has been the subject of a number of research analyst reports. Weiss Ratings upgraded Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Citigroup restated a “neutral” rating on shares of Seadrill in a research note on Monday, September 7th. BWS Financial reaffirmed a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Wednesday, October 14th. Finally, Zacks Research lowered shares of Seadrill from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $59.40.

About Seadrill

Seadrill Limited (NYSE: SDRL) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs, which are used to explore for and develop hydrocarbon resources beneath the seabed.

Seadrill’s services include contract drilling, rig operations, well construction support and related offshore services. Its modern, high-specification fleet is designed to work in challenging deepwater and harsh-environment locations.