How Patterson-UTI Energy (PTEN) Can Cross TL Resistance Level Earlier Than Memorial Production (MEMP), ACCO Brands (ACCO), Belden (BDC)

Patterson-UTI Energy Inc.(PTEN) Thursday declared lower earnings for the first-quarter of 2014. Net income for the quarter slashed to $34.8 million or $0.24 per share, from $56.2 million or $0.38 per share in the year-ago period. On average, 24 analysts polled by Thomson Reuters possible earnings per share of $0.25 for the quarter. Analysts’ estimates typically exclude one-time items. First-quarter revenues slid to $678 million from $667 million in the same period, last year. Patterson-UTI Energy Inc. (PTEN), Oil & Gas Drilling & Exploration, is currently trading at $33.91, which slashed -0.59%. The stock is trading -1.08% below its 52-week high and 82.09% above its 52-week low. In valuation, Patterson-UTI Energy Inc. maintained 1.74x price to book and 1.80x price to sales ratio. Company also recorded 0.25x debt over equity financial leverage. PTEN showed 0.68% weekly performance. Trade experts think of it as ‘Hold’ stock.

Memorial Production Partners LP (MEMP) Monday reported that it has signed a definitive deal to buy certain oil producing properties in Wyoming for more or less $935 million. The agreement is likely to be after accretive to distributable cash flow and net asset value. In connection with the pending acquisition and current operations forecast, MEMP also lifted its fiscal 2014 forecast for adjusted earnings before interest, tax, depreciation and amortization or EBITDA, a main earnings metric, to $355 million to $375 million range from the ahead reported range of $303 million to $311 million. The company also revised 2014 distributable cash flow guidance range to $183 million- $203 million from the formerly declared range of $158 million – $166 million. Memorial Production Partners LP (MEMP), Independent Oil & Gas company, swung 1.28% in last trading session and ended the day on $23.78. The stock is trading 1.19% below its 52-week high and 44.50% above its 52-week low. The RSI of stock currently approaches at the level of 74.92 with 1.64% weekly volatility. The firm maintained its -$0.31 EPS for the stock. MEMP showed 22.96% half yearly performance. Investment experts consider it a ‘Buy’ stock.

ACCO Brands Corp. (ACCO) reported Tuesday morning that it expects to announce full year 2013 EPS of $0.78 to $0.79. The consensus estimate is for EPS of $0.76. ACCO Brands raised during the first hour of trade Tuesday, before profit taking set in. The stock finished up by 0.51 at $6.78 on above average volume. ACCO Brands increased to a week and a half high and re-crossed its 200-day moving average. ACCO Brands Corporation (ACCO), Office Supplies company, dropped -1.79% in last regular trading to $6.04. The stock is priced with the difference of -3.88% 200-day simple moving average and -0.75% 50-day moving average. In valuation, ACCO Brands Corporation maintained 0.97x price to book and 0.40x price to sales ratio. Company also recorded 1.30x debt over equity financial leverage. ACCO showed -3.51% weekly performance. We recommend to ‘Hold’ the stock.

Belden Inc. (BDC) announced that its first-quarter income from continuing operations prospered year-over-year to $25.16 million or $0.57 per share from $22.25 million or $0.49 per share. Net income per share was $0.56, correlated to $0.49 last year. Adjusted income from continuing operations was $32.42 million or $0.80 per share for the quarter. On average, six analysts polled by Thomson Reuters expected the company to declare earnings of $0.79 per share for the quarter. Belden, Inc. (BDC), Industrial Electrical Equipment company, slashed -0.66% in last regular trading to $75.76. The stock is priced with the difference of 10.16% 200-day simple moving average and 4.26% 50-day moving average. With 184298 of its shares exchanged hands during the day and 0.68 relative volume ratio, market capitalization of Belden, Inc. moved to $3303.14 million. The float was recorded 42.89 million compared to 43.60 million outstanding shares. BDC’s monthly performance is 10.81%. Trade experts think of it as ‘Buy’ stock.

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Jason Tolbert is a stock analyst with The Downtown Leader. If you have a great story idea for Jason Tolbert, you can write at [Jason.Tolbert@downtownleader.com ].

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