ChampionX Co. (NYSE:CHX) Expected to Post Quarterly Sales of $643.00 Million

Equities research analysts predict that ChampionX Co. (NYSE:CHX) will announce $643.00 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for ChampionX’s earnings, with estimates ranging from $642.00 million to $644.00 million. ChampionX posted sales of $247.75 million during the same quarter last year, which suggests a positive year over year growth rate of 159.5%. The company is scheduled to announce its next earnings report on Monday, February 22nd.

According to Zacks, analysts expect that ChampionX will report full-year sales of $1.84 billion for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $2.69 billion, with estimates ranging from $2.62 billion to $2.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow ChampionX.

ChampionX (NYSE:CHX) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.10. ChampionX had a negative return on equity of 2.67% and a negative net margin of 54.03%. The firm had revenue of $633.53 million during the quarter, compared to the consensus estimate of $631.55 million.

A number of analysts have issued reports on CHX shares. Piper Sandler cut their target price on ChampionX from $12.60 to $11.60 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Cowen raised their target price on ChampionX from $13.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Evercore ISI raised ChampionX from an “in-line” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Tuesday, September 8th. Credit Suisse Group raised their target price on ChampionX from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Zacks Investment Research raised ChampionX from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Wednesday, November 4th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $14.29.

Several institutional investors have recently added to or reduced their stakes in CHX. Envestnet Asset Management Inc. purchased a new stake in shares of ChampionX in the 2nd quarter valued at approximately $499,000. SG Americas Securities LLC purchased a new stake in shares of ChampionX in the 2nd quarter valued at approximately $326,000. New York State Teachers Retirement System purchased a new stake in ChampionX during the 2nd quarter worth approximately $1,548,000. Oregon Public Employees Retirement Fund purchased a new stake in ChampionX during the 2nd quarter worth approximately $676,000. Finally, CWM LLC purchased a new stake in ChampionX during the 2nd quarter worth approximately $73,000. 90.59% of the stock is currently owned by institutional investors and hedge funds.

NYSE CHX opened at $11.79 on Thursday. ChampionX has a one year low of $2.89 and a one year high of $34.80. The firm has a market cap of $2.36 billion, a P/E ratio of -1.24 and a beta of 3.30. The company has a fifty day moving average price of $8.91. The company has a current ratio of 2.15, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies that help companies to drill for and produce oil and gas worldwide. It offers chemistry solutions to enhance production from flowing oil and gas wells, as well as for drilling and completion activities. The company also provides production and automation technologies, including artificial lift equipment and solutions, such as rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital products consisting of equipment and software for industrial internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.

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Earnings History and Estimates for ChampionX (NYSE:CHX)

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