In last trading session, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) saw 2,248,953 shares changing hands with its beta currently measuring 2.82. Company’s recent per share price level of $2.84 trading at -$0.03 or -0.87% at ring of the bell on the day assigns it a market valuation of $538.9 Million. That closing price of PTEN’s stock is at a discount of -285.56% from its 52-week high price of $10.95 and is indicating a premium of 43.31% from its 52-week low price of $1.61. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.11 Million shares which gives us an average trading volume of 3.95 Million if we extend that period to 3-months.
For Patterson-UTI Energy, Inc. (PTEN), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 3.1. Splitting up the data highlights that, out of 23 analysts covering the stock, 6 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 12 suggested the stock as a Hold whereas 3 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.62 in the current quarter.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) trade information
In the face of being in the red today for losing -0.87%, in the last five days PTEN remained trading in the green while hitting it’s week-highest on Friday, Oct 09 when the stock touched $3.12-8 price level, adding 8.88% to its value on the day. Patterson-UTI Energy, Inc.’s shares saw a change of -72.95% in year-to-date performance and have moved -6.58% in past 5-day. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) showed a performance of -13.68% in past 30-days. Number of shares sold short was 21.44 Million shares which calculate 5.43 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $3.95 to the stock, which implies a rise of 39.08% to its current value. Analysts have been projecting $2 as a low price target for the stock while placing it at a high target of $6. It follows that stock’s current price would jump +111.27% in reaching the projected high whereas dropping to the targeted low would mean a loss of -29.58% for stock’s current value.
Patterson-UTI Energy, Inc. (PTEN) estimates and forecasts
Statistics highlight that Patterson-UTI Energy, Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added +37.86% of value to its shares in past 6 months, showing an annual growth rate of 120.2% while that of industry is -8.8. Apart from that, the company came lowering its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to decline by -129.6% in the current quarter and calculating -44.2% decline in the next quarter. This year revenue growth is estimated to drop -55.9% from the last financial year’s standing.
16 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $196.1 Million for the same. And 16 analysts are in estimates of company making revenue of $187.43 Million in the next quarter that will end in December 01, 2020. Company posted $598.45 Million and $492.3 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to drop by -67.2% while estimating it to be -61.9% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -31.2% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -42.6% while estimates for its earnings growth in next 5 years are of 0%
Patterson-UTI Energy, Inc. is more likely to be releasing its next quarterly report between October 22 and October 22, 2020, and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 2.87%, the share has a forward dividend of 0.08 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 1.57%.