PHX Energy Services Corp. (TSE:PHX) to Post FY2023 Earnings of $0.71 Per Share, Stifel Firstegy Forecasts

PHX Energy Services Corp. (TSE:PHX – Get Rating) – Research analysts at Stifel Firstegy lowered their FY2023 earnings estimates for PHX Energy Services in a report released on Wednesday, May 4th. Stifel Firstegy analyst C. Pereira now forecasts that the company will post earnings per share of $0.71 for the year, down from their previous estimate of $0.74.

Other analysts have also issued reports about the company. Stifel Nicolaus dropped their price target on PHX Energy Services from C$9.75 to C$9.50 in a report on Thursday. BMO Capital Markets lifted their price target on PHX Energy Services from C$9.00 to C$9.50 in a report on Thursday.

PHX Energy Services stock traded down C$0.30 during mid-day trading on Friday, reaching C$6.39. 40,011 shares of the company’s stock were exchanged, compared to its average volume of 104,971. The business’s fifty day simple moving average is C$6.57 and its 200 day simple moving average is C$5.46. The firm has a market capitalization of C$306.59 million and a PE ratio of 15.20. PHX Energy Services has a one year low of C$3.44 and a one year high of C$7.50. The company has a quick ratio of 1.18, a current ratio of 1.64 and a debt-to-equity ratio of 26.68.

PHX Energy Services (TSE:PHX – Get Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported C$0.17 EPS for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.04. The business had revenue of C$105.43 million for the quarter, compared to the consensus estimate of C$99.00 million.

In other PHX Energy Services news, Senior Officer Michael Leslie Buker sold 40,200 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of C$6.20, for a total value of C$249,123.42. Following the completion of the sale, the insider now directly owns 209,100 shares of the company’s stock, valued at C$1,295,813.61. Also, Senior Officer Craig Brown sold 107,400 shares of the firm’s stock in a transaction on Monday, March 21st. The stock was sold at an average price of C$6.15, for a total value of C$660,767.76. Following the completion of the sale, the insider now directly owns 638,903 shares of the company’s stock, valued at C$3,930,786.82. Insiders sold 279,962 shares of company stock valued at $1,713,546 over the last three months.

About PHX Energy Services (Get Rating)

PHX Energy Services Corp. provides horizontal and directional drilling technology and services to oil and natural gas exploration and development, and production companies in Canada, the United States, Russia, Albania, and the Middle East. It offers Velocity Real-Time System, a ground-breaking technology that offers downhole guidance systems; Atlas Motors, a high-performance drilling motors; PowerDrive Orbit RSS, a rotary steerable system; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, an MWD tool that transmits electric signals through geological formations.

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