Parker Drilling Company Fourth Quarter Earnings Sneak Peek

Parker Drilling Company (NYSE:PKD) will unveil its latest earnings on Thursday, February 23, 2012. Parker Drilling provides land and offshore contract drilling services and rental tools on a worldwide basis to independent and national oil and gas companies and integrated service providers.

Parker Drilling Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of 16 cents per share, a rise of 1500% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 17 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 16 cents during the last month. For the year, analysts are projecting net income of 50 cents per share, a rise of more than sixfold from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 5 cents, coming in at profit of 18 cents per share against an estimate of net income of. The company also topped expectations in the second quarter.

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Wall St. Revenue Expectations: Analysts predict a rise of 5.4% in revenue from the year-earlier quarter to $182.7 million.

Analyst Ratings: Analysts are optimistic about this stock, with three analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

A Look Back: In the third quarter, profit rose 4112.4% to $20.7 million (18 cents a share) from $492,000 (0 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 2.7% to $176.6 million from $172 million.

Key Stats:

Parker Drilling has seen increasing revenue for two quarters in a row. In the second quarter, the figure rose 10.4%.

Stock Price Performance: From January 20, 2012 to February 17, 2012, the stock price rose 45 cents (7.1%), from $6.35 to $6.80. The stock price saw one of its best stretches over the last year between June 27, 2011 and July 8, 2011, when shares rose for nine straight days, increasing 18.7% (+$1.03) over that span. It saw one of its worst periods between August 29, 2011 and September 6, 2011 when shares fell for six straight days, dropping 10.4% (-60 cents) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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