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ChampionX (CHX) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, ChampionX (CHX - Free Report) closed at $28.06, marking a -1.3% move from the previous day. This move lagged the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and gas drilling technology company had lost 12.33% over the past month. This has lagged the Construction sector's loss of 1.68% and the S&P 500's gain of 2% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.78 per share and revenue of $4.08 billion, which would represent changes of +41.27% and +7.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ChampionX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. ChampionX currently has a Zacks Rank of #4 (Sell).
Investors should also note ChampionX's current valuation metrics, including its Forward P/E ratio of 15.94. For comparison, its industry has an average Forward P/E of 18.45, which means ChampionX is trading at a discount to the group.
Meanwhile, CHX's PEG ratio is currently 0.57. 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 was holding an average PEG ratio of 1.09 at yesterday's closing price.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ChampionX (CHX) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ChampionX (CHX - Free Report) closed at $28.06, marking a -1.3% move from the previous day. This move lagged the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and gas drilling technology company had lost 12.33% over the past month. This has lagged the Construction sector's loss of 1.68% and the S&P 500's gain of 2% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.78 per share and revenue of $4.08 billion, which would represent changes of +41.27% and +7.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ChampionX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. ChampionX currently has a Zacks Rank of #4 (Sell).
Investors should also note ChampionX's current valuation metrics, including its Forward P/E ratio of 15.94. For comparison, its industry has an average Forward P/E of 18.45, which means ChampionX is trading at a discount to the group.
Meanwhile, CHX's PEG ratio is currently 0.57. 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 was holding an average PEG ratio of 1.09 at yesterday's closing price.
The Engineering - R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.