Parker Drilling Company Second Quarter Earnings Sneak Peek

Parker Drilling Company (NYSE:PKD) will unveil its latest earnings on Thursday, August 4, 2011. Parker Drilling Company provides land and offshore contract drilling services and rental tools on a worldwide basis to major, independent and national oil and gas companies and integrated service providers.

Parker Drilling Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 8 cents per share, a rise of twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 7 cents. For the year, analysts are projecting net income of 32 cents per share, a rise of fourfold from last year.

Past Earnings Performance: For the past three quarters, the company’s quarterly results have come in below analyst’s expectations. Last quarter, the company reported profit of 5 cents per share versus a mean estimate of net income of 6 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $157.3 million in revenue this quarter, a rise of 0.5% from the year ago quarter. Analysts are forecasting total revenue of $656.3 million for the year, a decline of 0.5% from last year’s revenue of $659.5 million.

Analyst Ratings: Analysts are bullish on this stock with five analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 0.9% to $156.2 million in first quarter. The figure fell 1.4% in the fourth quarter of the last fiscal year from the year earlier, dropped 5.2% in third quarter of the last fiscal year from the year-ago quarter and 29.4% in the second quarter of the last fiscal year.

Competitors to Watch: Pioneer Drilling Company (AMEX:PDC), Rowan Companies, Inc. (NYSE:RDC), Pride International, Inc. (NYSE:PDE), Helmerich & Payne, Inc. (NYSE:HP), Atwood Oceanics, Inc. (NYSE:ATW), Patterson-UTI Energy, Inc. (NASDAQ:PTEN), Allis-Chalmers Energy Inc. (NYSE:ALY), Hercules Offshore, Inc. (NASDAQ:HERO), Vantage Drilling Company (AMEX:VTG), and Seahawk Drilling, Inc. (NASDAQ:HAWK).

Stock Price Performance: During June 30, 2011 to July 29, 2011, the stock price had risen 49 cents (8.4%) from $5.85 to $6.34. 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, rising 18.7% (+$1.03) over that span. It saw one of its worst periods between May 31, 2011 and June 7, 2011 when shares fell for six-straight days, falling 9.4% (-60 cents) over that span. Shares are up $1.77 (+38.7%) year to date.

(Source: Xignite Financials)

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