Patterson-UTI Energy Inc (PTEN, Financial) is set to release its Q3 2024 earnings on Oct 24, 2024. The consensus estimate for Q3 2024 revenue is $1.33 billion, and the earnings are expected to come in at $0.02 per share. The full year 2024's revenue is expected to be $5.48 billion and the earnings are expected to be $0.19 per share. More detailed estimate data can be found on the Forecast page.
Patterson-UTI Energy Inc (PTEN, Financial) Estimates Trends
Over the past 90 days, revenue estimates for Patterson-UTI Energy Inc (PTEN) have seen a decline; for the full year 2024, estimates decreased from $5.87 billion to $5.48 billion, and for 2025, from $6.27 billion to $5.49 billion. Similarly, earnings estimates have also been revised downward; for the full year 2024, the estimate has been adjusted from $0.50 per share to $0.19 per share, and for 2025, from $0.85 per share to $0.24 per share.
Patterson-UTI Energy Inc (PTEN, Financial) Reported History
In the previous quarter of June 30, 2024, Patterson-UTI Energy Inc's (PTEN) actual revenue was $1.35 billion, which missed analysts' revenue expectations of $1.42 billion by -5.01%. Patterson-UTI Energy Inc's (PTEN) actual earnings were $0.03 per share, which missed analysts' earnings expectations of $0.093 per share by -67.74%. After releasing the results, Patterson-UTI Energy Inc (PTEN) was down by -0.1% in one day.
Patterson-UTI Energy Inc (PTEN, Financial) 12 Month Price Targets
Based on the one-year price targets offered by 15 analysts, the average target price for Patterson-UTI Energy Inc (PTEN) is $12 with a high estimate of $18 and a low estimate of $9.5. The average target implies an upside of 52.67% from the current price of $7.86.
Based on GuruFocus estimates, the estimated GF Value for Patterson-UTI Energy Inc (PTEN, Financial) in one year is $16.38, suggesting an upside of 108.4% from the current price of $7.86.
Based on the consensus recommendation from 18 brokerage firms, Patterson-UTI Energy Inc's (PTEN, Financial) average brokerage recommendation is currently 2.1, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
