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ChampionX (CHX) Gains As Market Dips: What You Should Know
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ChampionX (CHX - Free Report) closed the most recent trading day at $31.15, moving +0.52% from the previous trading session. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 10.92%.
Prior to today's trading, shares of the oil and gas drilling technology company had gained 7.94% over the past month. This has outpaced the Construction sector's gain of 4.72% and the S&P 500's gain of 2.18% in that time.
ChampionX will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2023. In that report, analysts expect ChampionX to post earnings of $0.39 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 22.24% from the prior-year quarter.
Any recent changes to analyst estimates for ChampionX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.48% lower. ChampionX is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 17.51. For comparison, its industry has an average Forward P/E of 19.55, which means ChampionX is trading at a discount to the group.
We can also see that CHX currently has a PEG ratio of 0.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Engineering - R and D Services industry currently had an average PEG ratio of 0.96 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CHX in the coming trading sessions, be sure to utilize Zacks.com.
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ChampionX (CHX) Gains As Market Dips: What You Should Know
ChampionX (CHX - Free Report) closed the most recent trading day at $31.15, moving +0.52% from the previous trading session. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 10.92%.
Prior to today's trading, shares of the oil and gas drilling technology company had gained 7.94% over the past month. This has outpaced the Construction sector's gain of 4.72% and the S&P 500's gain of 2.18% in that time.
ChampionX will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2023. In that report, analysts expect ChampionX to post earnings of $0.39 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 22.24% from the prior-year quarter.
Any recent changes to analyst estimates for ChampionX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.48% lower. ChampionX is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 17.51. For comparison, its industry has an average Forward P/E of 19.55, which means ChampionX is trading at a discount to the group.
We can also see that CHX currently has a PEG ratio of 0.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Engineering - R and D Services industry currently had an average PEG ratio of 0.96 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CHX in the coming trading sessions, be sure to utilize Zacks.com.