Seadrill (NYSE:SDRL) Issues Quarterly Earnings Results, Misses Estimates By $0.68 EPS

Key Points

• Seadrill reported a quarterly loss of $0.49 per share, missing analyst expectations of $0.19 earnings per share by $0.68.
• Revenue was $428 million, exceeding estimates of $382.66 million, while net margin was 0.07% and return on equity was 0.64%.
• Shares fell $1.45 to $46.28 in Tuesday trading. Analysts’ consensus rating was “Buy,” with an average price target of $59.40.

Seadrill (NYSE:SDRL - Get Free Report) released its quarterly earnings data on Tuesday. The oil and gas company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.68), FiscalAI reports. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The business had revenue of $428.00 million during the quarter, compared to analyst estimates of $382.66 million.

Seadrill Stock Performance

SDRL traded down $1.45 during trading on Tuesday, hitting $46.28. The stock had a trading volume of 629,690 shares, compared to its average volume of 779,530. The firm has a market cap of $2.89 billion, a PE ratio of 1,542.73 and a beta of 1.25. Seadrill has a 12 month low of $28.10 and a 12 month high of $55.47. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $47.81 and a 200-day simple moving average of $45.00.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings raised Seadrill from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 9th. Zacks Research lowered Seadrill from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 14th. BWS Financial reissued a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a research note on Wednesday, October 14th. Finally, Citigroup restated a "neutral" rating on shares of Seadrill in a report on Monday, September 7th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $59.40.

About Seadrill

Seadrill Limited NYSE: SDRL is an offshore drilling contractor that provides drilling services to oil and gas companies. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs, which are used to explore for and develop hydrocarbon resources beneath the seabed.

Seadrill's services include contract drilling, rig operations, well construction support and related offshore services. Its modern, high-specification fleet is designed to work in challenging deepwater and harsh-environment locations.

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