Research analysts at StockNews.com started coverage on shares of Independence Contract Drilling (NYSE:ICD – Get Free Report) in a report released on Tuesday. The firm set a “hold” rating on the oil and gas company’s stock.
Independence Contract Drilling Trading Down 2.3 %
Shares of NYSE:ICD opened at $1.27 on Tuesday. The company’s 50-day moving average price is $1.54 and its 200 day moving average price is $1.85. The company has a market cap of $19.32 million, a PE ratio of -0.38 and a beta of 4.94. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.98. Independence Contract Drilling has a fifty-two week low of $1.23 and a fifty-two week high of $3.45.
Independence Contract Drilling (NYSE:ICD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.23. The business had revenue of $46.64 million for the quarter, compared to analysts’ expectations of $41.64 million. Independence Contract Drilling had a negative net margin of 24.20% and a negative return on equity of 11.44%. During the same period in the previous year, the business earned $0.14 earnings per share. Sell-side analysts anticipate that Independence Contract Drilling will post -2.51 earnings per share for the current year.
Institutional Investors Weigh In On Independence Contract Drilling
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.
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