ChampionX (NASDAQ:CHX) Announces Earnings Results, Misses Estimates By $0.01 EPS

ChampionX (NASDAQ:CHX) announced its quarterly earnings data on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01), Briefing.com reports. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business had revenue of $906.53 million for the quarter, compared to analysts’ expectations of $916.50 million. During the same period in the prior year, the company posted $0.41 EPS. The firm’s revenue was down 3.5% on a year-over-year basis.

ChampionX Price Performance

NASDAQ:CHX opened at $29.03 on Friday. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95. The stock’s fifty day moving average is $30.58 and its two-hundred day moving average is $32.40. The company has a market capitalization of $5.53 billion, a P/E ratio of 15.78, a P/E/G 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio is presently 20.65%.

Analysts Set New Price Targets

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

About ChampionX

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.