Equities research analysts expect Newpark Resources Inc (NYSE:NR) to announce earnings of $0.10 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Newpark Resources’ earnings, with estimates ranging from $0.10 to $0.11. Newpark Resources posted earnings per share of $0.03 in the same quarter last year, which suggests a positive year over year growth rate of 233.3%. The company is scheduled to announce its next quarterly earnings report on Monday, October 29th.
On average, analysts expect that Newpark Resources will report full year earnings of $0.41 per share for the current year, with EPS estimates ranging from $0.38 to $0.44. For the next year, analysts anticipate that the company will post earnings of $0.65 per share, with EPS estimates ranging from $0.49 to $0.75. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Newpark Resources.
Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, July 26th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Newpark Resources had a net margin of 1.30% and a return on equity of 4.74%. The firm had revenue of $236.30 million for the quarter, compared to analysts’ expectations of $227.33 million. During the same quarter last year, the business earned $0.02 earnings per share. The business’s revenue was up 29.1% on a year-over-year basis.
A number of brokerages recently commented on NR. TheStreet raised Newpark Resources from a “c+” rating to a “b-” rating in a research note on Tuesday, June 26th. ValuEngine raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, May 1st. Finally, Credit Suisse Group raised their price target on Newpark Resources from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Newpark Resources has a consensus rating of “Buy” and a consensus target price of $11.00.
Shares of Newpark Resources stock traded up $0.10 on Monday, hitting $10.05. The stock had a trading volume of 418,300 shares, compared to its average volume of 560,464. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 3.91. Newpark Resources has a one year low of $7.35 and a one year high of $11.65. The stock has a market capitalization of $955.38 million, a price-to-earnings ratio of 101.00 and a beta of 1.47.
A number of hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its position in Newpark Resources by 702.1% during the second quarter. Advisors Asset Management Inc. now owns 172,884 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 151,329 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Newpark Resources during the second quarter valued at $173,000. Bank of America Corp DE lifted its position in Newpark Resources by 7.5% during the second quarter. Bank of America Corp DE now owns 766,706 shares of the oil and gas company’s stock valued at $8,319,000 after buying an additional 53,233 shares during the period. Epoch Investment Partners Inc. lifted its position in Newpark Resources by 9.7% during the second quarter. Epoch Investment Partners Inc. now owns 2,102,772 shares of the oil and gas company’s stock valued at $22,815,000 after buying an additional 185,550 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Newpark Resources by 69.6% during the second quarter. Renaissance Technologies LLC now owns 457,000 shares of the oil and gas company’s stock valued at $4,958,000 after buying an additional 187,500 shares during the period. 97.59% of the stock is owned by institutional investors.
Newpark Resources Company Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific regions.
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