Equities analysts expect CSI Compressco LP (NASDAQ:CCLP) to post sales of $107.65 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for CSI Compressco’s earnings. The lowest sales estimate is $101.17 million and the highest is $112.83 million. CSI Compressco posted sales of $71.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 50.3%. The business is scheduled to announce its next earnings results on Wednesday, November 14th.
On average, analysts expect that CSI Compressco will report full year sales of $398.03 million for the current financial year, with estimates ranging from $374.03 million to $414.10 million. For the next fiscal year, analysts forecast that the business will report sales of $417.41 million per share, with estimates ranging from $390.74 million to $443.98 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings data on Wednesday, August 8th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.01). CSI Compressco had a negative net margin of 12.89% and a negative return on equity of 51.34%. The firm had revenue of $99.92 million during the quarter, compared to analyst estimates of $91.13 million.
Several analysts have issued reports on CCLP shares. Raymond James set a $8.00 price objective on shares of CSI Compressco and gave the company a “buy” rating in a research report on Tuesday, May 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective (down previously from $8.00) on shares of CSI Compressco in a research report on Tuesday, May 8th. BidaskClub downgraded shares of CSI Compressco from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. ValuEngine raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Finally, Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $6.50.
Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in CSI Compressco during the fourth quarter worth $1,150,000. Deutsche Bank AG lifted its stake in CSI Compressco by 60,459.8% during the fourth quarter. Deutsche Bank AG now owns 244,056 shares of the oil and gas company’s stock worth $1,334,000 after purchasing an additional 243,653 shares during the last quarter. Wells Fargo & Company MN lifted its stake in CSI Compressco by 25.8% during the first quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock worth $6,972,000 after purchasing an additional 196,936 shares during the last quarter. Intrinsic Edge Capital Management LLC lifted its stake in CSI Compressco by 16.1% during the first quarter. Intrinsic Edge Capital Management LLC now owns 143,900 shares of the oil and gas company’s stock worth $1,045,000 after purchasing an additional 20,000 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in CSI Compressco by 12.9% during the first quarter. OppenheimerFunds Inc. now owns 4,095,376 shares of the oil and gas company’s stock worth $29,733,000 after purchasing an additional 468,241 shares during the last quarter. Institutional investors own 26.68% of the company’s stock.
NASDAQ:CCLP traded up $0.02 during trading hours on Thursday, hitting $6.03. The stock had a trading volume of 89,500 shares, compared to its average volume of 124,870. The company has a quick ratio of 1.50, a current ratio of 2.31 and a debt-to-equity ratio of 8.65. CSI Compressco has a 1-year low of $4.41 and a 1-year high of $8.05. The company has a market capitalization of $254.66 million, a price-to-earnings ratio of -5.15 and a beta of 1.63.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Wednesday, August 1st were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 12.44%. The ex-dividend date of this dividend was Tuesday, July 31st. CSI Compressco’s dividend payout ratio (DPR) is currently -64.10%.
About CSI Compressco
CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.
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