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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: marc chatman who wrote (13744)3/5/1998 12:57:00 PM
From: Czechsinthemail  Respond to of 95453
 
marc,

Thanks for the post on GW. Though it may be a good contrarian indicator that we're nearing the bottom on oil prices, the forecast of a 5% drop in dayrates and possibly lower utilization certainly raises a caution flag. And then there are those earnings revisions: 98 est lowered from $0.29 to $0.15 and 99 est from $0.51 to $0.35.
Doesn't look like the analyst expects this canary to fly anytime soon.
Baird



To: marc chatman who wrote (13744)3/5/1998 1:08:00 PM
From: pz  Read Replies (1) | Respond to of 95453
 
Marc,

I was thinking about buying GW for a flip today, but will stay away.

The earnings revisions gives GW a PE of 28 using 98 earnings, which is high for the land drillers.

Just to compare...UTI has a PE of 17 and PDS has a PE of 12.

Thanks,

Paul


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