FY2024 Earnings Forecast for Helmerich & Payne, Inc. Issued By Zacks Research (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Zacks Research raised their FY2024 earnings per share (EPS) estimates for Helmerich & Payne in a note issued to investors on Tuesday, September 3rd. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings per share of $3.47 for the year, up from their prior forecast of $3.43. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q1 2026 earnings at $0.82 EPS, Q2 2026 earnings at $0.67 EPS, Q3 2026 earnings at $0.73 EPS and FY2026 earnings at $2.96 EPS.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The firm had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis.

A number of other equities analysts have also weighed in on HP. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Piper Sandler dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Royal Bank of Canada raised their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.00.

Helmerich & Payne Trading Down 1.0 %

Shares of HP opened at $30.34 on Thursday. The firm has a market cap of $3.00 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 3.50 and a beta of 1.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. Helmerich & Payne has a 1 year low of $30.18 and a 1 year high of $46.55. The company has a 50 day simple moving average of $35.61 and a two-hundred day simple moving average of $37.70.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently bought and sold shares of HP. International Assets Investment Management LLC purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at $318,000. Russell Investments Group Ltd. raised its position in Helmerich & Payne by 58.1% in the 4th quarter. Russell Investments Group Ltd. now owns 138,675 shares of the oil and gas company’s stock worth $5,023,000 after purchasing an additional 50,980 shares during the period. M&T Bank Corp lifted its stake in Helmerich & Payne by 5.7% in the fourth quarter. M&T Bank Corp now owns 8,510 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 457 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Helmerich & Payne by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 910,432 shares of the oil and gas company’s stock valued at $32,976,000 after buying an additional 21,490 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.