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The double-digit advance pushed this provider of contract drilling solutions and rental tools to the top of the Zacks #1 Rank List today.
PKD has watched most covering analysts raise their estimates over the past month, thanks to a solid second-quarter report from early August.
The Zacks Consensus Estimate for 2011 has moved higher by approximately 24% in that time to 46 cents per share.
As for next year, the Zacks Consensus Estimate of 71 cents is up more than 12.5% from 63 cents, and marks the potential for year-over-year profit growth of more than 54%.
Both periods experienced 3 upward revisions out of 5 total estimates in the past 30 days.
The second quarter that started this appreciation included earnings per share of 14 cents, which beat the Zacks Consensus Estimate of 8 cents by 75%. This marked the first time in almost 2 years that the company surpassed expectations.
Revenue climbed to $172.8 million from $156.5 million, thanks in large part to strong growth in its Rental Tools segment.
PRO was also featured in this article on Aug 24.
Earnings estimates have stood still over the past 30 days, but remain well above levels from 2 months ago.
The Zacks Consensus Estimate for 2011 is 16 cents, or 23% higher than 60 days ago, while the Zacks Consensus Estimate for 2012 has increased 20% in that time to 24 cents.
In addition, current expectations suggest that next year could improve upon this year by as much as 50%.
PRO's second quarter saw earnings per share of 5 cents beat our estimate by 25% and also reverse a year-ago loss. Total revenue soared 33% to $23.8 million.
During the quarter, PRO signed several new customers, re-signed a number of existing customers and released the latest version of its PROS Pricing Solutions Suite. It also established a new reseller in Asia.
Today, it was near the apex of the Zacks #1 Rank Top Performers List with a gain just over 8%.
Earnings estimates have been steadily advancing ever since its solid second-quarter results from late July, which included a raised outlook for the rest of the year.
The Zacks Consensus Estimate for 2011 is 41 cents per share, marking advances of more than 57% in 2 months and almost 8% in 30 days.
The Zacks Consensus Estimate for 2012 is up 56% in 2 months to 64 cents per share, including a push higher by 6.7% in the past 30 days.
CLUB's solid second-quarter had earnings per share of 16 cents surpass the Zacks Consensus Estimate by about 45%. Revenue advanced only slightly to $118 million.
However, same-club revenue was up 1.5%, while total member count advanced 7,000 to 517,000.
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