Patterson-UTI (PTEN) got here out with a quarterly lack of $0.12 per share versus the Zacks Consensus Estimate of a lack of $0.10. This compares to earnings of $0.19 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -20%. 1 / 4 in the past, it was anticipated that this supplier of onshore contract drilling companies would put up earnings of $0.01 per share when it really produced break-even earnings, delivering a shock of -100%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates simply as soon as.
Patterson-UTI
The sustainability of the inventory’s quick value motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Patterson-UTI shares have misplaced about 0.6% because the starting of the yr versus the S&P 500’s acquire of two.7%.
What’s Subsequent for Patterson-UTI?
Whereas Patterson-UTI has underperformed the market to this point this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful observe report of harnessing the ability of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Patterson-UTI: blended. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is -$0.08 on $1.24 billion in revenues for the approaching quarter and -$0.17 on $5.1 billion in revenues for the present fiscal yr.
Traders needs to be conscious of the truth that the outlook for the trade can have a cloth affect on the efficiency of the inventory as nicely. When it comes to the Zacks Business Rank, Oil and Fuel – Drilling is at present within the backside 42% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One other inventory from the identical trade, Precision Drilling (PDS), has but to report outcomes for the quarter ended December 2024. The outcomes are anticipated to be launched on February 12.
This oilfield companies firm is predicted to put up quarterly earnings of $1.40 per share in its upcoming report, which represents a year-over-year change of -59.4%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Precision Drilling’s revenues are anticipated to be $344.54 million, down 7.5% from the year-ago quarter.
Ought to You Put money into Patterson-UTI Power, Inc. (PTEN)?
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Patterson-UTI Energy, Inc. (PTEN) : Free Stock Analysis Report
Precision Drilling Corporation (PDS) : Free Stock Analysis Report
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