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ChampionX (CHX) Outpaces Stock Market Gains: What You Should Know
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ChampionX (CHX - Free Report) closed at $31.98 in the latest trading session, marking a +0.41% move from the prior day. This change outpaced the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Coming into today, shares of the oil and gas drilling technology company had gained 14.08% in the past month. In that same time, the Construction sector gained 3.74%, while the S&P 500 lost 0.01%.
Wall Street will be looking for positivity from ChampionX as it approaches its next earnings report date. This 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, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 22.24% from the year-ago period.
Any recent changes to analyst estimates for ChampionX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 2.04% lower. ChampionX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 18.1. Its industry sports an average Forward P/E of 18.74, so we one might conclude that ChampionX is trading at a discount comparatively.
Meanwhile, CHX's PEG ratio is currently 0.42. 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. Engineering - R and D Services stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ChampionX (CHX) Outpaces Stock Market Gains: What You Should Know
ChampionX (CHX - Free Report) closed at $31.98 in the latest trading session, marking a +0.41% move from the prior day. This change outpaced the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Coming into today, shares of the oil and gas drilling technology company had gained 14.08% in the past month. In that same time, the Construction sector gained 3.74%, while the S&P 500 lost 0.01%.
Wall Street will be looking for positivity from ChampionX as it approaches its next earnings report date. This 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, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 22.24% from the year-ago period.
Any recent changes to analyst estimates for ChampionX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 2.04% lower. ChampionX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 18.1. Its industry sports an average Forward P/E of 18.74, so we one might conclude that ChampionX is trading at a discount comparatively.
Meanwhile, CHX's PEG ratio is currently 0.42. 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. Engineering - R and D Services stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.