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ChampionX (CHX) Stock Moves -0.97%: What You Should Know
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ChampionX (CHX - Free Report) closed at $28.68 in the latest trading session, marking a -0.97% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Heading into today, shares of the oil and gas drilling technology company had lost 6.31% over the past month, lagging the Construction sector's loss of 1.07% and the S&P 500's loss of 3.83% in that time.
ChampionX will be looking to display strength as it nears its next earnings release. On that day, ChampionX is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 63.64%. Meanwhile, our latest consensus estimate is calling for revenue of $971.2 million, up 12.15% from the prior-year quarter.
CHX's full-year Zacks Consensus Estimates are calling for earnings of $1.78 per share and revenue of $4.08 billion. These results would represent year-over-year changes of +41.27% and +7.1%, respectively.
It is also important to note the recent changes to analyst estimates for ChampionX. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.01% lower within the past month. ChampionX currently has a Zacks Rank of #3 (Hold).
Investors should also note ChampionX's current valuation metrics, including its Forward P/E ratio of 16.24. This represents a discount compared to its industry's average Forward P/E of 19.9.
We can also see that CHX currently has a PEG ratio of 0.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CHX's industry had an average PEG ratio of 1.07 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Stock Moves -0.97%: What You Should Know
ChampionX (CHX - Free Report) closed at $28.68 in the latest trading session, marking a -0.97% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Heading into today, shares of the oil and gas drilling technology company had lost 6.31% over the past month, lagging the Construction sector's loss of 1.07% and the S&P 500's loss of 3.83% in that time.
ChampionX will be looking to display strength as it nears its next earnings release. On that day, ChampionX is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 63.64%. Meanwhile, our latest consensus estimate is calling for revenue of $971.2 million, up 12.15% from the prior-year quarter.
CHX's full-year Zacks Consensus Estimates are calling for earnings of $1.78 per share and revenue of $4.08 billion. These results would represent year-over-year changes of +41.27% and +7.1%, respectively.
It is also important to note the recent changes to analyst estimates for ChampionX. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.01% lower within the past month. ChampionX currently has a Zacks Rank of #3 (Hold).
Investors should also note ChampionX's current valuation metrics, including its Forward P/E ratio of 16.24. This represents a discount compared to its industry's average Forward P/E of 19.9.
We can also see that CHX currently has a PEG ratio of 0.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CHX's industry had an average PEG ratio of 1.07 as of yesterday's close.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.