Patterson-UTI Energy (PTEN) Scheduled to Post Earnings on Thursday
Patterson-UTI Energy (NASDAQ:PTEN) is scheduled to release its Q313 earnings data on Thursday, October 24th. Analysts expect Patterson-UTI Energy to post earnings of $0.32 per share and revenue of $680.92 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.02. The company had revenue of $659.32 million for the quarter, compared to the consensus estimate of $646.39 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis.
Shares of Patterson-UTI Energy (NASDAQ:PTEN) opened at 23.26 on Wednesday. Patterson-UTI Energy has a 52-week low of $14.95 and a 52-week high of $25.48. The stock’s 50-day moving average is $19.95 and its 200-day moving average is $21.60. The company has a market cap of $3.391 billion and a price-to-earnings ratio of 16.94.
A number of analysts have recently weighed in on PTEN shares. Analysts at Susquehanna raised their price target on shares of Patterson-UTI Energy from $24.00 to $28.00 in a research note to investors on Wednesday, October 16th. They now have a “buy” rating on the stock. On the ratings front, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Patterson-UTI Energy in a research note to investors on Friday, October 11th. They now have a $27.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Patterson-UTI Energy to $21.00 in a research note to investors on Friday, October 11th. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Patterson-UTI Energy currently has an average rating of “Buy” and an average price target of $25.71.
Patterson-UTI Energy, Inc (NASDAQ:PTEN) owns and operates fleets of land-based drilling rigs in the United States.
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