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Patterson-UTI (PTEN) Down 6.7% Since Last Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Patterson-UTI (PTEN - Free Report) . Shares have lost about 6.7% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Patterson-UTI due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month.
The consensus estimate has shifted 5.26% due to these changes.
VGM Scores
Currently, Patterson-UTI has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Patterson-UTI has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.