Independence Contract Drilling Inc (ICD) Releases Earnings Results, Beats Expectations By $0.02 EPS

Independence Contract Drilling Inc (ICD) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.04. The company posted revenue of $22.46 million in the period, compared to analysts expectations of $21.95 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Independence Contract Drilling Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 5.50 from a previous price target of $4.75 .Independence Contract Drilling Inc was Initiated by Nomura to “Buy” on Apr 8, 2016. Shares were Reiterated by FBR Capital on Feb 24, 2016 to “Outperform” and Lowered the Price Target to $ 8 from a previous price target of $9 .

Independence Contract Drilling Inc opened for trading at $4.25 and hit $4.3 on the upside on Wednesday, eventually ending the session at $4.16, with a gain of 0.97% or 0.04 points. The heightened volatility saw the trading volume jump to 4,25,858 shares. Company has a market cap of $102 M.

In a different news, on Oct 1, 2015, David C Brown (officer ) purchased 500 shares at $4.99 per share price. According to the SEC, on May 13, 2015, Joseph Scott Thompson (officer ) purchased 5,000 shares at $7.90 per share price.

Independence Contract Drilling Inc

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