Capital One Financial Cuts Earnings Estimates for ChampionX

ChampionX Co. (NASDAQ:CHX) – Equities researchers at Capital One Financial decreased their FY2024 earnings per share (EPS) estimates for ChampionX in a research note issued to investors on Monday, October 21st. Capital One Financial analyst D. Becker now anticipates that the company will post earnings of $1.67 per share for the year, down from their previous forecast of $1.97. The consensus estimate for ChampionX’s current full-year earnings is $1.99 per share. Capital One Financial also issued estimates for ChampionX’s Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.67 EPS.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS.

Separately, Piper Sandler reduced their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, ChampionX presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Trading Up 1.0 %

CHX stock opened at $29.32 on Thursday. The firm’s fifty day simple moving average is $30.53 and its two-hundred day simple moving average is $32.34. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. ChampionX has a twelve month low of $25.46 and a twelve month high of $39.95.

Institutional Trading of ChampionX

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in ChampionX during the 1st quarter worth about $27,000. Blue Trust Inc. lifted its position in shares of ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of ChampionX during the second quarter valued at approximately $68,000. UMB Bank n.a. increased its holdings in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after buying an additional 882 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in ChampionX in the first quarter worth approximately $136,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.30%. ChampionX’s payout ratio is 20.65%.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.