Patterson-UTI Energy (PTEN) Set to Announce Earnings on Thursday

Patterson-UTI Energy (NASDAQ:PTEN) is scheduled to be releasing its earnings data before the market opens on Thursday, July 25th. Analysts expect Patterson-UTI Energy to post earnings of ($0.20) per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Patterson-UTI Energy had a negative return on equity of 1.89% and a negative net margin of 9.80%. The firm had revenue of $704.17 million during the quarter, compared to analyst estimates of $694.10 million. During the same quarter last year, the firm earned ($0.16) EPS. Patterson-UTI Energy’s quarterly revenue was down 13.0% on a year-over-year basis. On average, analysts expect Patterson-UTI Energy to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of NASDAQ PTEN opened at $11.30 on Wednesday. Patterson-UTI Energy has a fifty-two week low of $9.49 and a fifty-two week high of $18.39. The company’s 50 day simple moving average is $11.28. The company has a current ratio of 1.82, a quick ratio of 1.69 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -33.24 and a beta of 1.43.

A number of brokerages have weighed in on PTEN. Royal Bank of Canada lowered their price objective on Patterson-UTI Energy to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Morgan Stanley set a $207.00 target price on Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Citigroup decreased their target price on Western Digital from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, Raymond James set a $19.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $18.19.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling segment markets its contract drilling services primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.

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Earnings History for Patterson-UTI Energy (NASDAQ:PTEN)

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