Archer (ARHVF) Gets a Buy Rating from Kepler Capital

By Ryan Adsit

Kepler Capital analyst Kevin Roger maintained a Buy rating on Archer (ARHVFResearch Report) yesterday and set a price target of NOK6.00. The company’s shares closed last Monday at $0.16, close to its 52-week low of $0.13.

According to TipRanks.com, Roger is ranked #5881 out of 6169 analysts.

Currently, the analyst consensus on Archer is a Moderate Buy with an average price target of $0.56.

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Based on Archer’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $228 million and GAAP net loss of $56.6 million. In comparison, last year the company earned revenue of $214 million and had a net profit of $6.9 million.

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Archer Ltd. engages in the provision of a variety of oilfield products and services. It operates through the Eastern Hemisphere and Western Hemisphere segments. The Eastern Hemisphere segment involves in platform drilling, engineering, wireline, and oiltools service divisions. The Western Hemisphere comprises the land drilling operations in Latin America. The company was founded on August 31, 2007 and is headquartered in Hamilton, Bermuda.