Pioneer Energy Services Corp. (PES) Issues Earnings Results, Misses Estimates By $0.01 EPS
Pioneer Energy Services Corp. (NYSE:PES) issued its quarterly earnings results on Thursday. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), Bloomberg Earnings reports. Pioneer Energy Services Corp. had a negative return on equity of 28.63% and a negative net margin of 33.86%. The firm had revenue of $117.28 million during the quarter, compared to analysts’ expectations of $114.82 million. During the same quarter in the prior year, the firm earned ($0.29) EPS. The firm’s revenue was up 71.6% compared to the same quarter last year.
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Several analysts have recently weighed in on PES shares. Zacks Investment Research upgraded shares of Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Thursday, July 6th. Seaport Global Securities restated a “neutral” rating on shares of Pioneer Energy Services Corp. in a research report on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating and set a $2.75 price objective on shares of Pioneer Energy Services Corp. in a research report on Thursday, August 3rd. ValuEngine upgraded shares of Pioneer Energy Services Corp. from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Finally, Wells Fargo & Company downgraded shares of Pioneer Energy Services Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Pioneer Energy Services Corp. has a consensus rating of “Hold” and a consensus price target of $5.03.
Pioneer Energy Services Corp. Company Profile
Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.
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