Patterson-UTI Energy Inc reports results for the quarter ended September 30 - Earnings Summary

• Patterson-UTI Energy Inc reported quarterly adjusted earnings of 7 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of -10 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 4 cents per share. Wall Street expected results to range from 1 cents to 5 cents per share.

• Revenue rose 14.1% to $1.34 billion from a year ago; analysts expected $1.31 billion.

• Patterson-UTI Energy Inc's reported EPS for the quarter was 7 cents​.

• The company reported quarterly net income of $28.35 million.

• Patterson-UTI Energy Inc shares had risen by 11.8% this quarter and gained 99.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 41.9% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 7 "hold" and 1 "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 $13.50, about 6.7% above its last closing price of $12.60

This summary was machine generated from LSEG data October 29 at 12:54 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)