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Arabian Drilling closes at 2-year low
16/09/2024
Argaam Exclusive
AI Summary
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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.
| Year High (SAR) | Year Low (SAR) |
| 214.20 | 110.60 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 214.20 | 100.00 |
Accordingly, the stock’s year-to-date losses amounted to 42%.
Market Data :
| Open | 81.90 |
| Low | 80.05 |
| High | 82.35 |
| Previous Close | 81.90 |
| Change (3M) | (14.63 %) |
| Change (6M) | 10.55 % |
| Market Value | 7,320.25 |
| Avg. Volume (3M) | 200,702.98 |
| Avg. Turnover (3M) | 19,583,794.97 |
| Avg. Transaction (3M) | 1,830.80 |
| Change(12M) | (11.94 %) |
| YTD | (16.71 %) |
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 :
Established as a joint venture in 1964, the company was converted into a closed joint-stock company five years later with capital of SAR 2 million. Over the years, the company experienced significant growth, securing Saudi Aramco as a client in 1972 and transforming into a limited liability company in 1999. In 2013, Schlumberger joined the company's client base. The firm received the Saudi Aramco Excellence Award for “Highest Overall IKTVA Performance” in 2019. Subsequently, it r...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 7,320.26 |
| Shares Outstanding ((M)) | 89.00 |
| EPS ( ) (TTM) | (0.85 ) |
| Book Value (BV) ( Riyal) (Latest announcement) | 64.56 |
| Recurring P/E | More than 100 |
| Price/book | 1.27 |
| Dividend Yield (%) (Last Year) | 0.00 |
| Return on Average Assets (%) (TTM) | (0.73 ) |
| Return on Average Equity (%) (TTM) | (1.29 ) |
| Par Value ( Riyal) | 10.00 |
| Enterprise Value (EV) (M Riyal) | 9,713.95 |
| EV/adj EBITDA | 7.95 |
| EV/Revenues | 2.83 |
Calendar :
-
16 October
General Assembly
- -
06 November
Financial results date
- -
07 November
Earnings Call
- -
12 March
Financial results date
- -
13 March
Ex-dividend Date
- -
13 March
Conferences
-
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 | EFG-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 % |
Call Request
Comments Analysis: