In the last trading session, 16.55 million shares of the ChampionX Corp. (NASDAQ:CHX) were traded, and its beta was 2.47. Most recently the company’s share price was $39.08, and it changed around $3.68 or 10.40% from the last close, which brings the market valuation of the company to $7.47B. CHX currently trades at a discount to its 52-week high of $38.37, offering almost 1.82% off that amount. The share price’s 52-week low was $24.98, which indicates that the current value has risen by an impressive 36.08% since then. We note from ChampionX Corp.’s average daily trading volume that its 10-day average is 2.78 million shares, with the 3-month average coming to 1.45 million.
ChampionX Corp. (NASDAQ:CHX) trade information
Instantly CHX has showed a green trend with a performance of 10.40% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 33.79% year-to-date, but still up 13.84% over the last five days. On the other hand, ChampionX Corp. (NASDAQ:CHX) is 22.55% up in the 30-day period. We can see from the shorts that 8.72 million shares have been sold at a short interest cover period of 6.66 day(s).
The consensus price target as assigned by Wall Street analysts is $31, which translates to bulls needing to decrease their stock price by -26.06% from its current value. Analyst projections state that CHX is forecast to be at a low of $24 and a high of $38.
ChampionX Corp. (CHX) estimates and forecasts
ChampionX Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 9.71 percent over the past six months and at a 8.94% annual growth rate that is well below the industry average of 10.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 13.90% in revenue this quarter, and will report a decrease of -4.10% in the next quarter. The year-over-year growth rate is expected to be 3.50%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $922.23 million in revenue for the current quarter. 8 analysts expect ChampionX Corp. to make $956.13 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $948.35 million and $926.6 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -2.80%. Forecasts for the next quarter put sales growth at 3.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.66%. ChampionX Corp. earnings are expected to increase by 10.10% in 2024, but the outlook is positive 20.90% per year for the next five years.
CHX Dividends
ChampionX Corp.’s next quarterly earnings report is expected to be released around April 22 and April 26. The annual dividend yield of the stock is 0.87 percent and its annual dividend per share was 0.34. It is important to note, however, that the 0.87% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
ChampionX Corp. (NASDAQ:CHX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.89% of ChampionX Corp. shares, and 105.68% of them are in the hands of institutional investors. The stock currently has a share float of 106.63%. ChampionX Corp. stock is held by 542 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 11.82% of the shares, which is about 23.62 million shares worth $733.14 million.
Vanguard Group Inc, with 10.13% or 20.23 million shares worth $628.09 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 6.21 million shares worth $192.62 million, making up 3.11% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 6.15 million shares worth around $219.0 million, which represents about 3.08% of the total shares outstanding.
