Patterson-UTI Energy's Earnings Outlook
Portfolio Pulse from Benzinga Insights
Patterson-UTI Energy (NASDAQ:PTEN) is scheduled to release its quarterly earnings report on February 14, 2024, with an expected EPS of $0.19. Analysts and investors are keen on whether the company will surpass this estimate and provide positive guidance for the next quarter. Historical data shows mixed reactions to past earnings reports, with the last quarter missing EPS estimates but resulting in a 3.83% share price increase the following day. Over the last year, PTEN shares have declined by 30.03%, indicating potential concern among long-term shareholders.
February 13, 2024 | 5:02 pm
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Patterson-UTI Energy is expected to report an EPS of $0.19 for the upcoming quarter. Historical performance shows a mixed impact on stock prices post-earnings, with a notable 30.03% decline over the past year.
Given the mixed historical earnings performance and the significant annual decline in share price, the short-term impact of the upcoming earnings report on PTEN's stock price is uncertain. While a positive earnings surprise and optimistic future guidance could potentially uplift the stock, the recent trend and last quarter's performance suggest a cautious outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100