Brokerage Firms Predict ChampionX Co. (NASDAQ: CHX) to Report Earnings of $ 0.27 Per Share
Wall Street brokerage firms forecast ChampionX Co. (NASDAQ: CHX) to report earnings per share (EPS) of $ 0.27 for the current fiscal quarter, Zack reports. Two analysts provided earnings estimates for ChampionX, with the lower EPS estimate being $ 0.23 and the higher estimate being $ 0.36. ChampionX reported earnings of $ 0.07 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 285.7%. The company is expected to release its next quarterly results on Tuesday, February 22.
On average, analysts expect ChampionX to report annual earnings of $ 0.60 per share for the current year, with EPS estimates ranging from $ 0.57 to $ 0.64. For the next fiscal year, analysts predict the company will post earnings of $ 1.23 per share, with EPS estimates ranging from $ 0.99 to $ 1.60. Zacks Investment Research earnings per share averages are an average based on a survey of analysts who cover ChampionX.
ChampionX (NASDAQ: CHX) last released its results on Wednesday, October 27. The company reported EPS of $ 0.15 for the quarter, missing analyst consensus estimates of $ 0.18 ($ 0.03). The company posted revenue of $ 818.79 million for the quarter, against analysts’ expectations of $ 795.93 million. ChampionX had a return on equity of 5.13% and a net margin of 2.61%. The company’s revenue for the quarter increased 29.2% year-over-year. During the same period of the previous year, the company achieved EPS of $ 0.03.
Several analysts recently published reports on the stock. Zacks investment research reduced ChampionX stock from a “buy” note to a “hold” note in a research note on Tuesday, October 19. The Goldman Sachs group began covering ChampionX shares in a research note on Friday, September 17. They set a “sell” rating and a price target of $ 22.00 for the company. COKER & PALMER upgraded ChampionX shares from a “sector underperformance” rating to a “sector performance” rating in a report released on Monday August 30th. Finally, Barclays raised its price target on ChampionX shares from $ 29 to $ 35 and assigned the stock an “overweight” rating in a report released on Monday, November 1. A stock research analyst rated the stock with a sell rating, three issued a hold rating, and six assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $ 23.95.
In other ChampionX news, CAD Antoine Marcos sold 48,345 shares of the company in a transaction dated Friday, November 5. The shares were sold at an average price of $ 27.25, for a total transaction of $ 1,317,401.25. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.83% of the company’s shares.
Hedge funds and other institutional investors have recently changed their holdings in the company. First Trust Advisors LP increased its holdings of ChampionX shares by 22.0% in the second quarter. First Trust Advisors LP now owns 406,555 shares of the company valued at $ 10,428,000 after purchasing an additional 73,336 shares in the last quarter. Van ECK Associates Corp increased its position in ChampionX shares by 158.7% in the second quarter. Van ECK Associates Corp now owns 6,712,914 shares of the company valued at $ 172,186,000 after acquiring an additional 4,117,726 shares in the last quarter. Morgan Stanley increased its position in ChampionX shares by 131.1% in the second quarter. Morgan Stanley now owns 647,324 shares of the company valued at $ 16,604,000 after acquiring 367,241 additional shares during the last quarter. Sei Investments Co. increased its position in ChampionX shares by 17.1% in the second quarter. Sei Investments Co. now owns 426,352 shares of the company valued at $ 10,936,000 after acquiring an additional 62,166 shares during the last quarter. Finally, Congress Asset Management Co. MA strengthened its position in ChampionX shares by 18.1% in the second quarter. Congress Asset Management Co. MA now owns 50,813 shares of the company valued at $ 1,303,000 after acquiring an additional 7,778 shares in the last quarter. Institutional investors and hedge funds hold 94.90% of the company’s shares.
CHX shares traded down $ 1.84 on Friday, reaching $ 20.28. 1,483,765 shares of the company were traded, for an average volume of 1,351,217. The company has a market capitalization of $ 4.10 billion, a price / earnings ratio of 54.80 and a beta of 3.20 . The company has a 50-day moving average price of $ 23.89 and a 200-day moving average price of $ 24.30. The company has a leverage ratio of 0.43, a quick ratio of 1.22, and a current ratio of 1.87. ChampionX has a one-year low of $ 11.85 and a one-year high of $ 30.48.
ChampionX Company Profile
ChampionX Corp. engages in providing chemistry programs and services for the global upstream petroleum and natural gas industry. It operates in the following segments: Oilfield Performance, Specialty Performance, and Business Segment and Others. It provides applications and technologies for drilling, production and midstream.
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