Brokerages Expect Pioneer Energy Services Corp (PES) Will Announce Earnings of -$0.16 Per Share

Equities analysts predict that Pioneer Energy Services Corp (NYSE:PES) will report earnings per share of ($0.16) for the current quarter, according to Zacks. Seven analysts have made estimates for Pioneer Energy Services’ earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.20). Pioneer Energy Services posted earnings of ($0.14) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The business is expected to issue its next earnings results on Friday, February 15th.

According to Zacks, analysts expect that Pioneer Energy Services will report full-year earnings of ($0.50) per share for the current financial year, with EPS estimates ranging from ($0.52) to ($0.49). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.30) per share, with EPS estimates ranging from ($0.46) to ($0.13). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Pioneer Energy Services.

Pioneer Energy Services (NYSE:PES) last announced its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.07. Pioneer Energy Services had a negative return on equity of 19.97% and a negative net margin of 8.19%. The firm had revenue of $149.33 million during the quarter, compared to the consensus estimate of $149.27 million.

A number of research firms recently commented on PES. Piper Jaffray Companies set a $4.00 price objective on Pioneer Energy Services and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Seaport Global Securities restated a “buy” rating and set a $5.00 price objective on shares of Pioneer Energy Services in a research note on Wednesday, August 1st. Stifel Nicolaus started coverage on Pioneer Energy Services in a research report on Monday, September 10th. They set a “hold” rating and a $3.00 price objective for the company. ValuEngine raised Pioneer Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research raised Pioneer Energy Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.14.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of Pioneer Energy Services by 8.7% in the third quarter. Franklin Resources Inc. now owns 1,257,245 shares of the oil and gas company’s stock worth $3,709,000 after purchasing an additional 100,903 shares during the last quarter. Bridgeway Capital Management Inc. grew its holdings in shares of Pioneer Energy Services by 66.7% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 1,017,500 shares of the oil and gas company’s stock valued at $3,002,000 after acquiring an additional 407,200 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Pioneer Energy Services by 8.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,100,192 shares of the oil and gas company’s stock valued at $3,242,000 after acquiring an additional 83,373 shares in the last quarter. Smith Asset Management Group LP bought a new position in shares of Pioneer Energy Services in the 3rd quarter valued at about $741,000. Finally, Hennessy Advisors Inc. bought a new position in Pioneer Energy Services during the third quarter worth about $1,820,000. Institutional investors and hedge funds own 75.46% of the company’s stock.

Shares of Pioneer Energy Services stock traded down $0.03 during trading hours on Tuesday, hitting $2.60. 531,316 shares of the company were exchanged, compared to its average volume of 759,228. The stock has a market capitalization of $222.13 million, a PE ratio of -3.71 and a beta of 2.58. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.16 and a quick ratio of 1.97. Pioneer Energy Services has a 1 year low of $1.90 and a 1 year high of $6.35.

About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling and production services to oil and gas exploration and production companies in the United States and Colombia. The company offers contract land drilling services in the Marcellus/Utica, Eagle Ford, Permian Basin, and Bakken regions, as well as in Colombia.

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Earnings History and Estimates for Pioneer Energy Services (NYSE:PES)

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