Independence Contract Drilling (ICD) Set to Announce Quarterly Earnings on Wednesday

Independence Contract Drilling (NYSE:ICD) will release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Independence Contract Drilling to post earnings of ($0.73) per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Independence Contract Drilling (NYSE:ICD) last announced its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.15). Independence Contract Drilling had a negative net margin of 17.94% and a negative return on equity of 6.12%. The firm had revenue of $45.83 million for the quarter, compared to analysts’ expectations of $43.89 million. On average, analysts expect Independence Contract Drilling to post $-3 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Independence Contract Drilling Price Performance

Shares of Independence Contract Drilling stock opened at $1.86 on Monday. The business has a 50-day moving average of $1.84 and a 200 day moving average of $2.19. Independence Contract Drilling has a 12 month low of $1.61 and a 12 month high of $3.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.04 and a current ratio of 1.07.

Analysts Set New Price Targets

Separately, StockNews.com cut Independence Contract Drilling from a “hold” rating to a “sell” rating in a report on Friday.

Independence Contract Drilling Company Profile

Independence Contract Drilling, Inc provides land-based contract drilling services for oil and natural gas producers in the United States. It operates a fleet of pad-optimal and superspec AC powered rigs in the Permian Basin and the Haynesville Shale. The company was incorporated in 2011 and is headquartered in Houston, Texas.