ChampionX Co. (NASDAQ:CHX) Expected to Post Quarterly Sales of $884.45 Million

Equities research analysts expect ChampionX Co. (NASDAQ:CHXGet Rating) to post sales of $884.45 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for ChampionX’s earnings, with the lowest sales estimate coming in at $884.10 million and the highest estimate coming in at $884.80 million. ChampionX posted sales of $749.17 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.1%. The business is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that ChampionX will report full year sales of $3.58 billion for the current year, with estimates ranging from $3.56 billion to $3.60 billion. For the next year, analysts expect that the business will post sales of $3.92 billion, with estimates ranging from $3.88 billion to $3.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow ChampionX.

ChampionX (NASDAQ:CHXGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $865.96 million for the quarter, compared to analyst estimates of $833.75 million. ChampionX had a return on equity of 8.92% and a net margin of 4.43%. During the same period last year, the company earned $0.08 EPS.

CHX has been the topic of several recent research reports. Bank of America lowered ChampionX from a “buy” rating to a “neutral” rating in a research report on Friday, March 11th. Piper Sandler raised ChampionX from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $28.00 to $30.00 in a research report on Monday, April 11th. The Goldman Sachs Group raised ChampionX from a “sell” rating to a “neutral” rating and set a $24.00 price target on the stock in a research report on Tuesday, February 22nd. Finally, Barclays boosted their price target on ChampionX from $33.00 to $38.00 in a research report on Monday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $28.83.

NASDAQ CHX opened at $23.55 on Thursday. The firm has a market capitalization of $4.79 billion, a P/E ratio of 34.13 and a beta of 2.87. ChampionX has a 1-year low of $19.00 and a 1-year high of $30.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.85 and a quick ratio of 1.09. The business’s 50-day simple moving average is $23.00 and its 200-day simple moving average is $22.65.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 1st will be issued a $0.075 dividend. The ex-dividend date is Thursday, June 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.27%. ChampionX’s dividend payout ratio (DPR) is 43.48%.

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank N A MO bought a new stake in shares of ChampionX in the 4th quarter valued at approximately $27,000. FinTrust Capital Advisors LLC grew its stake in ChampionX by 113.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,160 shares of the company’s stock worth $28,000 after buying an additional 617 shares during the last quarter. Quent Capital LLC bought a new position in ChampionX during the 4th quarter worth $33,000. Northwestern Mutual Wealth Management Co. grew its stake in ChampionX by 145.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,787 shares of the company’s stock worth $36,000 after buying an additional 1,060 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in ChampionX during the 4th quarter worth $36,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

About ChampionX (Get Rating)

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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Earnings History and Estimates for ChampionX (NASDAQ:CHX)

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