Analysts: Atwood Oceanics, Inc. (NYSE:ATW)

Analysts are weighing in on how Atwood Oceanics, Inc. (NYSE:ATW), might perform in the near term. Wall Street analysts have a  assessment of the stock, with a mean rating of 3.0. The stock is rated as buy by 5 analysts, with 1 outperform and 17 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.

For the current quarter, the 26.00 analysts offering adjusted EPS forecast have a consensus estimate of $0.89 a share, which would compare with $1.73 in the same quarter last year. They have a high estimate of $1.76 and a low estimate of $0.57. Revenue for the period is expected to total nearly $235.28M from $330.56M the year-ago period.

For the full year, 25.00 Wall Street analysts forecast this company would deliver earnings of 4.57 per share, with a high estimate of $7.82 and a low estimate of $1.32. It had reported earnings per share of $7.70 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $1.05B versus 1.40B in the preceding year.

The analysts project the company to maintain annual growth of around -62.20% percent over the next five years as compared to an average growth rate of 8.97% percent expected for its competitors in the same industry.

Among the 25 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for ATW is $10.14 but some analysts are projecting the price to go as high as $19.00. If the optimistic analysts are correct, that represents a 53 percent upside potential from the recent closing price of $12.41. Some sell-side analysts, particularly the bearish ones, have called for $5.00 price targets on shares of Atwood Oceanics, Inc. (NYSE:ATW).

In the last reported results, the company reported earnings of $1.73 per share, while analysts were calling for share earnings of $1.66. It was an earnings surprise of 4.20%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Atwood Oceanics, Inc., an offshore drilling contractor, engages in the drilling and completion of exploratory and developmental oil and gas wells worldwide. As of November 10, 2015, it owned a fleet of 11 mobile offshore drilling units, as well as 2 ultra-deepwater drill ships under construction. The company was founded in 1968 and is headquartered in Houston, Texas.