Q1 2018 EPS Estimates for Pioneer Energy Services Corp (PES) Boosted by Imperial Capital

Pioneer Energy Services Corp (NYSE:PES) – Investment analysts at Imperial Capital lifted their Q1 2018 earnings per share (EPS) estimates for shares of Pioneer Energy Services in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Imperial Capital analyst J. Wangler now expects that the oil and gas company will post earnings per share of ($0.12) for the quarter, up from their previous estimate of ($0.13). Imperial Capital currently has a “In-Line” rating and a $3.00 target price on the stock. Imperial Capital also issued estimates for Pioneer Energy Services’ Q2 2018 earnings at ($0.09) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at ($0.08) EPS and FY2018 earnings at ($0.37) EPS.

Pioneer Energy Services (NYSE:PES) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $117.28 million for the quarter, compared to the consensus estimate of $114.82 million. Pioneer Energy Services had a negative net margin of 25.19% and a negative return on equity of 26.46%. The business’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.29) earnings per share.

A number of other research firms have also recently issued reports on PES. Zacks Investment Research upgraded Pioneer Energy Services from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Wednesday, October 4th. Goldman Sachs Group cut Pioneer Energy Services from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Jefferies Group reiterated a “buy” rating and issued a $3.00 price target on shares of Pioneer Energy Services in a research report on Friday, November 10th. Wells Fargo & Company cut Pioneer Energy Services from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Finally, ValuEngine cut Pioneer Energy Services from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Pioneer Energy Services currently has an average rating of “Hold” and a consensus price target of $4.41.

Shares of Pioneer Energy Services (NYSE:PES) opened at $2.25 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.61 and a current ratio of 1.75. Pioneer Energy Services has a 1 year low of $1.60 and a 1 year high of $7.20.

Large investors have recently bought and sold shares of the stock. Texas Permanent School Fund grew its holdings in shares of Pioneer Energy Services by 0.8% during the second quarter. Texas Permanent School Fund now owns 56,423 shares of the oil and gas company’s stock worth $116,000 after buying an additional 472 shares in the last quarter. Citigroup Inc. grew its stake in Pioneer Energy Services by 230.7% in the second quarter. Citigroup Inc. now owns 63,848 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 44,541 shares in the last quarter. BlueCrest Capital Management Ltd grew its stake in Pioneer Energy Services by 532.0% in the second quarter. BlueCrest Capital Management Ltd now owns 76,328 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 64,251 shares in the last quarter. Citadel Advisors LLC bought a new position in Pioneer Energy Services in the third quarter valued at approximately $188,000. Finally, Alliancebernstein L.P. grew its stake in Pioneer Energy Services by 35.2% in the second quarter. Alliancebernstein L.P. now owns 92,952 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 24,200 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

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About Pioneer Energy Services

Pioneer Energy Services Corp. provides land-based drilling services and production services to a group of independent oil and gas exploration and production companies in the United States and internationally in Colombia. The Company operates through two segments, which include drilling services segment and production services segment.

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

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