Q2 2024 Earnings Forecast for PHX Energy Services Corp. Issued By Atb Cap Markets (TSE:PHX)

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

PHX Energy Services (TSE:PHX) last announced its earnings results on Tuesday, May 7th. The company reported C$0.37 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 net margin of 14.26% and a return on equity of 45.23%.

Separately, ATB Capital dropped their price target on PHX Energy Services from C$12.25 to C$11.75 and set an “outperform” rating on the stock in a research note on Friday.

PHX Energy Services Stock Performance

Shares of PHX Energy Services stock opened at C$9.07 on Monday. PHX Energy Services has a one year low of C$5.99 and a one year high of C$9.78. The company has a market capitalization of C$430.73 million, a PE ratio of 4.75 and a beta of 2.37. The company has a debt-to-equity ratio of 20.04, a quick ratio of 1.25 and a current ratio of 1.74. The company has a 50-day simple moving average of C$8.96 and a two-hundred day simple moving average of C$8.93.

PHX Energy Services Dividend Announcement

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

Insider Transactions at PHX Energy Services

In other news, Director Garrett Wright bought 3,700 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of C$9.07 per share, for a total transaction of C$33,573.06. In other news, Director Garrett Wright bought 3,700 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of C$9.07 per share, for a total transaction of C$33,573.06. Also, insider PHX Energy Services Corp bought 317,600 shares of the company’s stock in a transaction that occurred on 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. Over the last 90 days, insiders have acquired 326,125 shares of company stock worth $2,850,923. Insiders own 11.88% 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.