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ChampionX (CHX) Outpaces Stock Market Gains: What You Should Know
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ChampionX (CHX - Free Report) closed at $32.49 in the latest trading session, marking a +1.37% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, lost 0.98%.
Heading into today, shares of the oil and gas drilling technology company had lost 1.38% over the past month, outpacing the Construction sector's loss of 3.12% and the S&P 500's loss of 3.91% 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 $974.1 million, up 12.49% 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 help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.75% higher. ChampionX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 17.97. For comparison, its industry has an average Forward P/E of 19.34, which means ChampionX is trading at a discount to the group.
Investors should also note that CHX has a PEG ratio of 0.42 right now. 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. The Engineering - R and D Services industry currently had an average PEG ratio of 1.24 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 50, putting it in the top 20% 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) Outpaces Stock Market Gains: What You Should Know
ChampionX (CHX - Free Report) closed at $32.49 in the latest trading session, marking a +1.37% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, lost 0.98%.
Heading into today, shares of the oil and gas drilling technology company had lost 1.38% over the past month, outpacing the Construction sector's loss of 3.12% and the S&P 500's loss of 3.91% 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 $974.1 million, up 12.49% 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 help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.75% higher. ChampionX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 17.97. For comparison, its industry has an average Forward P/E of 19.34, which means ChampionX is trading at a discount to the group.
Investors should also note that CHX has a PEG ratio of 0.42 right now. 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. The Engineering - R and D Services industry currently had an average PEG ratio of 1.24 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 50, putting it in the top 20% 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.