Patterson-UTI Energy Inc reports results for the quarter ended March 31 - Earnings Summary

• Patterson-UTI Energy Inc PTEN.OQ reported quarterly breakeven results​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 15 cents. The mean expectation of fifteen analysts for the quarter was for a loss of 4 cents per share. Wall Street expected results to range from -6 cents to -3 cents per share.

• Revenue fell 15.2% to $1.28 billion from a year ago; analysts expected $1.19 billion.

• Patterson-UTI Energy Inc's reported EPS for the quarter was breakeven results​.

• The company reported quarterly net income of $1.01 million.

• Patterson-UTI Energy Inc shares had fallen by 28.5% this quarter and lost 28.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 52.3% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas drilling peer group is also "buy"

• Wall Street's median 12-month price target for Patterson-UTI Energy Inc is $10.00

This summary was machine generated from LSEG data April 24 at 12:15 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)