Atb Cap Markets Has Positive Outlook for TSE:PHX Q3 Earnings

PHX Energy Services Corp. (TSE:PHX) – Analysts at Atb Cap Markets boosted their Q3 2024 earnings per share (EPS) estimates for shares of PHX Energy Services in a research report issued on Tuesday, October 22nd. Atb Cap Markets analyst T. Monachello now forecasts that the company will post earnings of $0.28 per share for the quarter, up from their previous estimate of $0.27. The consensus estimate for PHX Energy Services’ current full-year earnings is $1.24 per share.

PHX Energy Services (TSE:PHX) last issued its earnings results on Tuesday, August 6th. The company reported C$0.26 EPS for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.06. PHX Energy Services had a return on equity of 42.04% and a net margin of 13.50%. The firm had revenue of C$154.23 million for the quarter, compared to analyst estimates of C$149.00 million.

Separately, ATB Capital cut their price target on PHX Energy Services from C$12.25 to C$11.75 in a research report on Tuesday.

PHX Energy Services Stock Up 0.8 %

TSE:PHX opened at C$9.53 on Friday. The company has a debt-to-equity ratio of 20.51, a current ratio of 1.62 and a quick ratio of 1.25. The company’s fifty day moving average price is C$9.66 and its 200-day moving average price is C$9.42. PHX Energy Services has a 1-year low of C$7.00 and a 1-year high of C$10.70. The firm has a market capitalization of C$443.43 million, a P/E ratio of 5.21 and a beta of 2.32.

PHX Energy Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.39%. PHX Energy Services’s payout ratio is 43.72%.

Insider Activity

In other news, insider PHX Energy Services Corp purchased 60,600 shares of the stock in a transaction that occurred on Saturday, August 31st. The shares were purchased at an average cost of C$10.17 per share, with a total value of C$616,350.48. In other PHX Energy Services news, Senior Officer Michael Leslie Buker sold 4,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of C$10.03, for a total value of C$49,147.00. Also, insider PHX Energy Services Corp acquired 60,600 shares of the business’s stock in a transaction dated Saturday, August 31st. The stock was acquired at an average price of C$10.17 per share, with a total value of C$616,350.48. Insiders own 11.86% of the company’s stock.

About PHX Energy Services

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.