Wall Street brokerages expect that Pioneer Energy Services Corp (NYSE:PES) will post $126.12 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Pioneer Energy Services’ earnings. The highest sales estimate is $127.00 million and the lowest is $125.60 million. Pioneer Energy Services posted sales of $71.48 million during the same quarter last year, which would suggest a positive year over year growth rate of 76.4%. The firm is expected to issue its next earnings results before the market opens on Friday, February 16th.

According to Zacks, analysts expect that Pioneer Energy Services will report full year sales of $126.12 million for the current year, with estimates ranging from $445.70 million to $448.00 million. For the next fiscal year, analysts forecast that the business will post sales of $569.38 million per share, with estimates ranging from $525.90 million to $609.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Pioneer Energy Services.

Pioneer Energy Services (NYSE:PES) last announced its earnings results on Thursday, November 2nd. 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). The business had revenue of $117.28 million for the quarter, compared to analyst estimates of $114.82 million. Pioneer Energy Services had a negative return on equity of 26.46% and a negative net margin of 25.19%. The business’s revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.29) EPS.

A number of equities research analysts have recently commented on PES shares. Seaport Global Securities upgraded shares of Pioneer Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Jefferies Group reiterated a “buy” rating and set a $3.00 price target on shares of Pioneer Energy Services in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Wednesday, January 10th. Imperial Capital started coverage on shares of Pioneer Energy Services in a report on Wednesday, October 4th. They set an “in-line” rating and a $3.00 price target for the company. Finally, Wells Fargo & Co downgraded shares of Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.53.

Several hedge funds and other institutional investors have recently modified their holdings of PES. Schwab Charles Investment Management Inc. grew its holdings in Pioneer Energy Services by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 948,286 shares of the oil and gas company’s stock valued at $1,944,000 after purchasing an additional 24,911 shares during the period. Bank of New York Mellon Corp grew its holdings in Pioneer Energy Services by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 942,927 shares of the oil and gas company’s stock valued at $1,933,000 after purchasing an additional 28,145 shares during the period. Legal & General Group Plc grew its holdings in Pioneer Energy Services by 9.2% in the second quarter. Legal & General Group Plc now owns 137,528 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 11,562 shares during the period. Federated Investors Inc. PA grew its holdings in Pioneer Energy Services by 46.3% in the second quarter. Federated Investors Inc. PA now owns 128,974 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 40,816 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Pioneer Energy Services by 1.7% in the second quarter. Principal Financial Group Inc. now owns 1,378,982 shares of the oil and gas company’s stock valued at $2,827,000 after purchasing an additional 23,293 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Shares of Pioneer Energy Services (NYSE:PES) opened at $3.70 on Friday. The company has a market cap of $285.62, a PE ratio of -2.76 and a beta of 2.92. Pioneer Energy Services has a twelve month low of $1.60 and a twelve month high of $6.65. The company has a current ratio of 1.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77.

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Pioneer Energy Services 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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Earnings History and Estimates for Pioneer Energy Services (NYSE:PES)

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