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ChampionX (CHX) Gains But Lags Market: What You Should Know
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In the latest trading session, ChampionX (CHX - Free Report) closed at $25.95, marking a +1.33% move from the previous day. The stock lagged the S&P 500's daily gain of 1.76%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Heading into today, shares of the oil and gas drilling technology company had lost 19.69% over the past month, lagging the Construction sector's loss of 7.05% and the S&P 500's loss of 5.94% in that time.
Wall Street will be looking for positivity from ChampionX as it approaches its next earnings report date. 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.
Investors might also notice recent changes to analyst estimates for ChampionX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.01% lower. ChampionX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 14.36. This valuation marks a discount compared to its industry's average Forward P/E of 17.53.
Also, we should mention that CHX has a PEG ratio of 0.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CHX's industry had an average PEG ratio of 1 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 39, which puts it in the top 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ChampionX (CHX) Gains But Lags Market: What You Should Know
In the latest trading session, ChampionX (CHX - Free Report) closed at $25.95, marking a +1.33% move from the previous day. The stock lagged the S&P 500's daily gain of 1.76%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Heading into today, shares of the oil and gas drilling technology company had lost 19.69% over the past month, lagging the Construction sector's loss of 7.05% and the S&P 500's loss of 5.94% in that time.
Wall Street will be looking for positivity from ChampionX as it approaches its next earnings report date. 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.
Investors might also notice recent changes to analyst estimates for ChampionX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.01% lower. ChampionX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 14.36. This valuation marks a discount compared to its industry's average Forward P/E of 17.53.
Also, we should mention that CHX has a PEG ratio of 0.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CHX's industry had an average PEG ratio of 1 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 39, which puts it in the top 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.