6 stories mentioning SASE:2381Updated 27d ago
Every FINWIRES story that references SASE:2381, newest first.
JP Morgan on Monday decreased the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 99 Saudi riyals from 106 riyals and affirmed its overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
AlJazira Capital on Sunday affirmed its neutral rating for Arabian Drilling Co (SASE:2381) following "better-than-expected" first-quarter results.Thanks to a lower-than-expected OPEX, the oilfield services company reported a profit of 7 million Saudi riyals for the three months ended March 31, against the research firm's estimate of a 4 million-riyal loss. Revenue was down 0.3% quarter over quarter to 822 million riyals, in line with AlJazira Capital's 823 million-riyal estimate."ADC delivered better than expected results in Q1-26 supported by lower OPEX. However, next quarter is likely to be challenging for the company with offshore rig suspensions announced in late March. The company guided up to 12% Q/Q decline in topline. Additionally, offshore suspensions will weigh heavily on margins as well. Meanwhile, reactivated land rigs and start of first international contract would briefly support the performance. The stock currently trades at EV/EBITDA of 8.4x based on our FY26E estimates," analysts said.The stock has a price target of 94.9 riyals.
Arabian Drilling Co. (SASE:2381) said Sunday that net profit and revenue for the first quarter declined year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 7.1 million Saudi riyals, compared with 75.2 million riyals earlier. EPS moved to 0.08 riyal from 0.84 riyal.The Tadawul-listed oilfield services company's revenue was 821.6 million riyals, compared with 911.1 million riyals a year ago.
Morgan Stanley on Thursday decreased the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 107 Saudi riyals from 112 riyals and kept its overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
BSF Capital on Wednesday decreased the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 105 Saudi riyals from 114 riyals and kept its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
UBS on Wednesday reduced the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 101.00 Saudi riyals from 108.00 riyals and affirmed its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)