Independence Contract Drilling (ICD) to Release Quarterly Earnings on Wednesday

Independence Contract Drilling (NYSE:ICD) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.73) per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Independence Contract Drilling (NYSE:ICD) last posted its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.15). The company had revenue of $45.83 million during the quarter, compared to the consensus estimate of $43.89 million. Independence Contract Drilling had a negative net margin of 17.94% and a negative return on equity of 6.12%. 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 Trading Down 0.5 %

ICD stock traded down $0.01 during trading hours on Tuesday, reaching $1.86. 4,966 shares of the stock were exchanged, compared to its average volume of 62,238. The firm’s 50-day moving average is $1.84 and its 200-day moving average is $2.18. 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 current ratio of 1.07 and a quick ratio of 1.04.

Analysts Set New Price Targets

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

About Independence Contract Drilling

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.