Pioneer Energy Services Corp. (NYSE:PES) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 21, 2017. The stock added about 63.4 percent in price since last results when it was at $3.55 a share. Based on the most relevant past-periods data, there is an 52.94 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 9 times out of last 17 reported quarters. It has beaten earnings-per-share estimates 66% of the time in its last 12 earnings reports. It fell short of earnings estimates on 3 occasions, and it has met expectations 1 time.
Here’s how traders responded to PES earnings announcements over the past few quarters.
Pioneer Energy Services Corp. (PES) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 6.27 percent over the past four quarters. Back on November 1, 2016, it posted earnings per-share earnings at $-0.29 which beat the consensus $-0.33 projection (positive surprise of12.12%. For the quarter, revenue came in at 68.35M versus consensus estimate of 63.23M. The stock gained 5.63 percent the session following the earnings reports were released, and on 7th day price change was 0 percent.
On July 28, 2016, it reported earnings at $-0.31 a share compared with the consensus estimate of $-0.31 per share (negative surprise of 0%). Revenue of 62.29M for that quarter was below the $65.6M analysts had expected. The stock retreated -12.11% the day following the earnings announcement, and on 7th day price change was -18.03%.
On April 29, 2016, it recorded $-0.3 a share in earnings which topped the consensus estimate of $-0.33 (positive surprise of 9.09%). Revenue for the quarter was $74.95M while analysts called for revenues to be $78.06M. The stock gained 7.99% the day following the earnings data was made public, and on 7th day price change was 5.9%.
On February 17, 2016, it announced earnings per share at $-0.25 versus the consensus estimate of $-0.26 per share (positive surprise of 3.85%). That came on revenues of $104.47M for that period. Analysts had expected $103.92M in revenue.
Pioneer Energy Services Corp. Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $-0.31. The analysts’ present consensus range is $-0.34-$-0.27 for EPS. The market consensus range for revenue is between $69.3M and $73.04M, with an average of $71.82M.
Pioneer Energy Services Corp. (NYSE:PES) last ended at $5.8, sending the company’s market cap near $375.01M. The consensus 12-month price target from analysts covering the stock is $4.91. The share price has declined -15.33% from its top level in 52 weeks and dropped 167.28% this year. It recently traded in a range of $5.7-$6.05 at a volume of 2407442 shares. The recent trading ended with the price nearly 1.75 higher for the last 5 trading days, rebounding 510.53% from its 52-week low.