Seadrill Higher Ahead of Earnings |
Written by Christian Paolinetti |
Wednesday, 23 February 2011 11:03 |
New York, February 23rd (TradersHuddle.com) - Shares of Seadrill Ltd. (NYSE:SDRL) are trading higher by +0.36% ahead of its quarterly earnings release. Seadrill, the offshore drilling contractor is expected to release its quarterly results on February 24th. Wall Street Analysts consensus calls for a profit of $0.76 a share on $1.13 billion revenue. Seadrill estimates have a range of $0.07 a share. The high estimate calls for profit of $0.8 a share and the low estimate is calling for a profit of $0.73 a share, a year ago for the quarter the company reported $0.74 a share. Seadrill Ltd. (NYSE:SDRL) provides contract drilling services to the oil and gas industry. The Company operates in shallow to ultra-deepwater areas in harsh and benign environments utilizing a versatile fleet, which includes drillships, semisubmersible rigs, jackup rigs, and tender rigs. |
Link to original article: http://www.tradershuddle.com/20110223171933/Earnings/seadrill-higher-ahead-of-earnings.html
SeaDrill (SDRL) is a high dividend stock, but it does not have a strong balance sheet. Its high current liabilities outweigh its current assets (quick ratio). I will be looking for improvement in the quick ratio in its 4Q2010 earnings report tonight. Check back for updates later tonight.
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