North Atlantic Drilling Ltd. (NADL) Issues Quarterly Earnings Results

North Atlantic Drilling Ltd. (NYSE:NADL) announced its earnings results on Wednesday, May 24th. The oil and gas company reported ($2.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.50) by $0.16, reports. The company had revenue of $72.60 million during the quarter. North Atlantic Drilling had a negative net margin of 25.59% and a negative return on equity of 30.91%.

North Atlantic Drilling (NYSE NADL) traded down 4.11% during midday trading on Friday, reaching $2.10. 104,371 shares of the company traded hands. The firm’s market capitalization is $50.64 million. The firm has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.43. North Atlantic Drilling has a one year low of $0.65 and a one year high of $8.08.

Earnings History for North Atlantic Drilling (NYSE:NADL)

Separately, Zacks Investment Research cut shares of North Atlantic Drilling from a “hold” rating to a “sell” rating in a research report on Friday, March 10th.

An institutional investor recently raised its position in North Atlantic Drilling stock. Acrospire Investment Management LLC increased its stake in North Atlantic Drilling Ltd. (NYSE:NADL) by 107.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,169 shares of the oil and gas company’s stock after buying an additional 17,659 shares during the period. Acrospire Investment Management LLC owned 0.14% of North Atlantic Drilling worth $104,000 as of its most recent filing with the SEC. 4.21% of the stock is currently owned by institutional investors.

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