Profits Remain Elusive at Helmerich & Payne
For the fourth quarter in a row, Helmerich & Payne (NYSE: HP) grew revenue significantly as its fleet of rigs gets put back to work. But once again, those revenue gains didn't translate to a positive net income result. This has been a pattern for a while now, and has undoubtedly raised questions about whether the market leader in land drilling rigs can adapt to the new dynamics in the North American drilling market. Like the prior quarters, though, there are signs that investors should remain encouraged by these results.
Here's a look at why Helmerich & Payne's income statement remains mired in the red and what management thinks will happen that will lead to better results down the road.
Image source: Getty Images.
Source: Fool.com
Helmerich & Payne Inc Stock
€37.86
10.720%
Currently there is a rather positive sentiment for Helmerich & Payne Inc with 8 Buy predictions and 3 Sell predictions.
As a result the target price of 46 € shows a positive potential of 21.5% compared to the current price of 37.86 € for Helmerich & Payne Inc.
