Pioneer Energy Services Corp. (PES) Expected to Post Earnings of -$0.11 Per Share

Brokerages expect Pioneer Energy Services Corp. (NYSE:PES) to announce earnings of ($0.11) per share for the current quarter, according to Zacks. Five analysts have provided estimates for Pioneer Energy Services Corp.’s earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at ($0.09). Pioneer Energy Services Corp. reported earnings of ($0.34) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 67.6%. The business is expected to report its next quarterly earnings results on Friday, February 16th.

According to Zacks, analysts expect that Pioneer Energy Services Corp. will report full year earnings of ($0.68) per share for the current year, with EPS estimates ranging from ($0.73) to ($0.65). For the next fiscal year, analysts expect that the business will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.44) to ($0.15). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Pioneer Energy Services Corp..

Pioneer Energy Services Corp. (NYSE:PES) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The business had revenue of $117.28 million during the quarter, compared to analyst estimates of $114.82 million. Pioneer Energy Services Corp. had a negative return on equity of 26.46% and a negative net margin of 25.19%. The business’s quarterly revenue was up 71.6% on a year-over-year basis. During the same period last year, the business earned ($0.29) EPS.

A number of analysts recently issued reports on PES shares. Zacks Investment Research raised Pioneer Energy Services Corp. from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Wednesday, October 4th. Piper Jaffray Companies reissued 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. Jefferies Group LLC reissued a “buy” rating and set a $3.00 price objective on shares of Pioneer Energy Services Corp. in a research report on Friday. Imperial Capital started coverage on Pioneer Energy Services Corp. in a research report on Wednesday, October 4th. They set an “in-line” rating and a $3.00 price objective for the company. Finally, Wells Fargo & Company cut Pioneer Energy Services Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.69.

Pioneer Energy Services Corp. (PES) traded up $0.05 on Thursday, reaching $2.20. The company had a trading volume of 331,400 shares, compared to its average volume of 671,800. Pioneer Energy Services Corp. has a 52-week low of $1.60 and a 52-week high of $7.20. The company has a quick ratio of 1.61, a current ratio of 1.75 and a debt-to-equity ratio of 1.77.

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Several large investors have recently made changes to their positions in PES. Wells Fargo & Company MN lifted its position in shares of Pioneer Energy Services Corp. by 15.5% in the first quarter. Wells Fargo & Company MN now owns 125,736 shares of the oil and gas company’s stock worth $503,000 after buying an additional 16,865 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Pioneer Energy Services Corp. by 38.3% in the first quarter. Parametric Portfolio Associates LLC now owns 431,695 shares of the oil and gas company’s stock worth $1,727,000 after buying an additional 119,542 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Pioneer Energy Services Corp. by 0.7% in the first quarter. Prudential Financial Inc. now owns 169,106 shares of the oil and gas company’s stock worth $676,000 after buying an additional 1,160 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Pioneer Energy Services Corp. in the first quarter worth about $138,000. Finally, OppenheimerFunds Inc. lifted its position in shares of Pioneer Energy Services Corp. by 45.5% in the first quarter. OppenheimerFunds Inc. now owns 47,432 shares of the oil and gas company’s stock worth $190,000 after buying an additional 14,822 shares during the last quarter. 73.98% of the stock is owned by institutional investors.

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

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