Arabian Drilling closes at 2-year low

16/09/2024 Argaam Exclusive

Shares of TASI-listed Arabian Drilling Co. plunged by 2% today, Sept. 16, closing at the lowest level in nearly two years at SAR 111.

 

The stock hit an intraday low of 110.60.

Highest per Year (Riyal) Lowest per Year (Riyal)
214.20 110.60
Highest since listing (Riyal) Lowest since listing (Riyal)
214.20 100.00

Accordingly, the stock’s year-to-date losses amounted to 42%.

Market Data :

Open 109.20
Low 106.00
High 109.40
Previous Close 109.20
Change (3M) (25.00 %)
Change (6M) (33.21 %)
Market Value 9,451.80
Avg. Volume (3M) 412,030.54
Avg. Turnover (3M) 48,482,789.15
Avg. Transaction (3M) 3,945.58
Change(12M) (40.67 %)
YTD (44.40 %)

The company has not adjusted its capital since listing on the Main Market (TASI) on Nov. 7, 2022.

Adjustments to the capital (M Riyal) :

Date Type Capital (M Riyal) Change (%)
2022 IPO   890.00 42.86%

Financial Performance :

Overview :

Arabian Drilling Co. was established in 1964 as a joint venture, with a capital of SAR 2 million in Khobar. The company operates in two segments: onshore segment, which includes provision of drilling and related services through onshore rigs, and offshore segment, which includes provision of drilling and related services through offshore rigs. Its activities also include drilling of oil and natural gas fields, offering services related to oil extraction, except surveying services, and drilling o...


Financial Ratios :

Financial Ratio Current
Market Cap (M Riyal) 9,451.80
Shares Outstanding ((M)) 89.00
EPS ( Riyal) (TTM) 5.50
Book Value (BV) ( Riyal) (Latest announcement) 66.33
Adjusted P/E (Last12) 15.90
Price/book 1.60
Dividend Yield (%) (Last Year) 4.76
Return on Average Assets (%) (TTM) 4.81
Return on Average Equity (%) (TTM) 8.31
Par Value ( Riyal) 10.00
Enterprise Value (EV) (M) 11,769.02


Analyst Estimates :

153.01

Fair Average Price

8

Number of Recommendations

Rating Research firm Current Price Target Price Change
Buy Citi Bank Group 120.00 170.00 41.67 %
Neutral Goldman Sachs 115.20 126.10 9.46 %
Overweight Al Rajhi Capital 121.00 140.00 15.70 %
Buy Hermes 118.00 154.00 30.51 %
Underweight JP Morgan 116.00 136.00 17.24 %
Buy Citi Bank Group 141.60 190.00 34.18 %
Overweight GIB Capital 144.00 165.00 14.58 %
Hold HSBC 131.60 143.00 8.66 %

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