PHX Energy Services Corp. (TSE:PHX) to Post Q2 2024 Earnings of $0.20 Per Share, Atb Cap Markets Forecasts

PHX Energy Services Corp. (TSE:PHX) – Investment analysts at Atb Cap Markets increased their Q2 2024 earnings estimates for shares of PHX Energy Services in a research note issued to investors on Thursday, June 27th. Atb Cap Markets analyst T. Monachello now anticipates that the company will post earnings per share of $0.20 for the quarter, up from their previous forecast of $0.15. The consensus estimate for PHX Energy Services’ current full-year earnings is $1.18 per share.

Separately, ATB Capital reduced their price objective on shares of PHX Energy Services from C$12.25 to C$11.75 and set an “outperform” rating for the company in a research note on Friday.

PHX Energy Services Price Performance

PHX opened at C$9.07 on Monday. The firm has a 50-day moving average price of C$8.96 and a 200-day moving average price of C$8.94. PHX Energy Services has a twelve month low of C$5.99 and a twelve month high of C$9.78. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 20.04. The company has a market capitalization of C$430.73 million, a price-to-earnings ratio of 4.75 and a beta of 2.37.

PHX Energy Services (TSE:PHX) last released its earnings results on Tuesday, May 7th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.34 by C$0.03. The business had revenue of C$166.12 million during the quarter, compared to the consensus estimate of C$161.25 million. PHX Energy Services had a return on equity of 45.23% and a net margin of 14.26%.

PHX Energy Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date is Friday, June 28th. PHX Energy Services’s payout ratio is 41.88%.

Insider Activity

In other PHX Energy Services news, insider PHX Energy Services Corp purchased 317,600 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of C$8.74 per share, for a total transaction of C$2,775,824.00. In other PHX Energy Services news, Director Garrett Wright purchased 3,700 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of C$9.07 per share, with a total value of C$33,573.06. Also, insider PHX Energy Services Corp bought 317,600 shares of PHX Energy Services stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of C$8.74 per share, for a total transaction of C$2,775,824.00. Over the last ninety days, insiders bought 326,125 shares of company stock worth $2,850,923. 11.88% of the stock is owned by company insiders.

PHX Energy Services Company Profile

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.