Q3 2024 EPS Estimates for PHX Energy Services Corp. (TSE:PHX) Raised by Analyst

PHX Energy Services Corp. (TSE:PHX) – Analysts at Atb Cap Markets raised their Q3 2024 earnings per share estimates for PHX Energy Services in a report released on Wednesday, May 8th. Atb Cap Markets analyst T. Monachello now expects that the company will post earnings per share of $0.28 for the quarter, up from their previous estimate of $0.26. The consensus estimate for PHX Energy Services’ current full-year earnings is $1.29 per share. Atb Cap Markets also issued estimates for PHX Energy Services’ Q4 2024 earnings at $0.31 EPS and FY2024 earnings at $1.09 EPS.

Several other research firms also recently commented on PHX. BMO Capital Markets decreased their price objective on PHX Energy Services from C$11.50 to C$11.00 in a research note on Wednesday, February 28th. ATB Capital lifted their price target on shares of PHX Energy Services from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Monday, February 5th.

PHX Energy Services Price Performance

TSE PHX opened at C$8.71 on Friday. The business’s fifty day moving average is C$9.11 and its 200 day moving average is C$8.75. PHX Energy Services has a fifty-two week low of C$5.58 and a fifty-two week high of C$9.78. The company has a debt-to-equity ratio of 21.32, a quick ratio of 1.25 and a current ratio of 1.83. The company has a market capitalization of C$413.64 million, a PE ratio of 4.44 and a beta of 2.37.

PHX Energy Services (TSE:PHX) last announced its earnings results on Tuesday, February 27th. The company reported C$0.68 EPS for the quarter, beating analysts’ consensus estimates of C$0.40 by C$0.28. PHX Energy Services had a net margin of 15.02% and a return on equity of 50.97%. The business had revenue of C$165.33 million during the quarter, compared to analysts’ expectations of C$158.50 million.

Insider Activity at PHX Energy Services

In other news, Senior Officer John Michael Hooks sold 71,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of C$9.36, for a total transaction of C$672,048.00. In related news, Senior Officer Michael Leslie Buker sold 10,500 shares of PHX Energy Services stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$8.88, for a total value of C$93,240.00. Also, Senior Officer John Michael Hooks sold 71,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of C$9.36, for a total value of C$672,048.00. Over the last ninety days, insiders sold 139,200 shares of company stock valued at $1,162,762. Corporate insiders own 11.86% of the company’s stock.

PHX Energy Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.18%. PHX Energy Services’s dividend payout ratio is 40.82%.

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.