Ocean Rig UDW (ORIG) Profit Surprises Wall Street; National Grid (NGG) PT Boosted at Barclays

Ocean _Rig_ORIG

Shares of Ocean Rig UDW Inc. (Nasdaq:ORIG) soared more than 30% in the extended session Thursday as the company unveiled quarterly profit and revenue numbers well-above Wall Street analysts’ expectations.

For the first quarter 2016, Ocean Rig UDW posted revenues of $508.0 million, a 26.33% increase year over year, and net income – excluding non-recurring items – of $163.0 million, or $1.17 per share, easily surpassing the Capital IQ Consensus Estimate of $0.88 earnings per share on revenues of $426.23 million for the period

ORIG stock closed at $1.81, down $0.09 (or -4.74%) and 2,562,806 of its shares exchanged hands during the day

Ocean Rig UDW, an international contractor of offshore deepwater drilling services, has 82.59M Shares Outstanding and ORIG stock one-year range is between $0.66 and $8.77 per share. At close on Thursday, the company had a Market Capitalization of $149.48M.



Investment analysts at Barclays reiterated an Overweight rating and raised their price target for National Grid plc (NYSE:NGG) shares from $74.00 to $80.00 after the electricity and gas utility company delivered strong financial and operational results

For the full year ended March 31, 2016, National Grid posted – adjusted – profit before tax of £3.14 billion, a 9% increase year over year, and earnings per share of 63.5 pence, up 10% versus the same period the prior year.

However, NGG stock finished in negative territory by 0.82% at $72.19, with a total volume of 660,973 shares traded on Thursday.

National Grid has 752.20M Shares Outstanding, Market Capitalization (intraday) of $54.30B and NGG stock 52-week range is from $63.75 to $73.92 per share


Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/