Independence Contract Drilling (ICD) Set to Announce Quarterly Earnings on Wednesday

Independence Contract Drilling (NYSE:ICD) is set to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.73) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Independence Contract Drilling (NYSE:ICD) last released its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.15). Independence Contract Drilling had a negative return on equity of 6.12% and a negative net margin of 17.94%. The business had revenue of $45.83 million during the quarter, compared to analysts’ expectations of $43.89 million. 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 Price Performance

NYSE:ICD opened at $1.86 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $1.84 and a 200 day moving average of $2.19. Independence Contract Drilling has a 1-year low of $1.61 and a 1-year high of $3.45.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of 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.