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Fly News Breaks for July 10, 2019
HP
Jul 10, 2019 | 07:23 EDT
Susquehanna analyst Charles Minervino lowered his price target for Helmerich & Payne to $62 from $72 and maintained a Positive rating. In a research note to investors, the analyst says he lowered his fiscal Q4/2020 EPS and EBITDA estimates to 36c/$1.94 and $202M/$866M, respectively, from 55c/$2.96 and $227M/$1.01B to reflect lowered expectations for U.S. drilling activity during the back half of calendar 2019 and into 2020, given recent commodity price headwinds and the growing possibility of budget-related customer slowdowns towards year-end.
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