Seaport Global Securities Weighs in on Seadrill Ltd’s FY2016 Earnings (SDRL)
Seadrill Ltd (NASDAQ:SDRL) – Research analysts at Seaport Global Securities cut their FY2016 EPS estimates for shares of Seadrill in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Brown now forecasts that the firm will post earnings of $1.11 per share for the year, down from their previous forecast of $1.17. Seaport Global Securities also issued estimates for Seadrill’s Q4 2016 earnings at $0.09 EPS, Q1 2017 earnings at $0.03 EPS and Q2 2017 earnings at $0.02 EPS.
Seadrill (NASDAQ:SDRL) last posted its earnings results on Thursday, August 25th. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.10. The company had revenue of $868 million for the quarter.
A number of other brokerages also recently issued reports on SDRL. Zacks Investment Research raised Seadrill from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Evercore ISI reaffirmed a “sell” rating on shares of Seadrill in a report on Saturday, July 2nd. Morgan Stanley downgraded Seadrill from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 26th. Canaccord Genuity reaffirmed a “sell” rating on shares of Seadrill in a report on Sunday, August 21st. Finally, Goldman Sachs Group Inc. reissued a “sell” rating on shares of Seadrill in a report on Thursday, September 22nd. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average price target of $3.05.
Seadrill (NASDAQ:SDRL) traded up 5.827% on Wednesday, reaching $2.815. The company’s stock had a trading volume of 13,914,284 shares. The stock’s market cap is $1.43 billion. The stock has a 50-day moving average of $2.37 and a 200-day moving average of $3.12. Seadrill has a one year low of $1.57 and a one year high of $7.93.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Seadrill by 28.3% in the third quarter. BNP Paribas Arbitrage SA now owns 57,254 shares of the company’s stock worth $136,000 after buying an additional 12,646 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Seadrill by 108.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,832,542 shares of the company’s stock worth $5,938,000 after buying an additional 951,806 shares during the last quarter. Numeric Investors LLC bought a new stake in shares of Seadrill during the second quarter worth approximately $210,000. Paloma Partners Management Co boosted its stake in shares of Seadrill by 10.8% in the second quarter. Paloma Partners Management Co now owns 124,911 shares of the company’s stock worth $405,000 after buying an additional 12,203 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Seadrill by 1,121.6% in the second quarter. Panagora Asset Management Inc. now owns 894,225 shares of the company’s stock worth $2,888,000 after buying an additional 821,025 shares during the last quarter.
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow and deep water areas, as well as benign and harsh environments.
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