Equities analysts expect Newpark Resources Inc (NYSE:NR) to post $0.07 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Newpark Resources’ earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.08. Newpark Resources reported earnings per share of $0.08 during the same quarter last year, which suggests a negative year-over-year growth rate of 12.5%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 30th.
According to Zacks, analysts expect that Newpark Resources will report full year earnings of $0.26 per share for the current year, with EPS estimates ranging from $0.25 to $0.27. For the next year, analysts anticipate that the company will post earnings of $0.46 per share, with EPS estimates ranging from $0.28 to $0.58. Zacks’ EPS calculations are an average based on a survey of research firms that cover Newpark Resources.
Newpark Resources (NYSE:NR) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The business had revenue of $216.41 million for the quarter, compared to analysts’ expectations of $216.63 million. During the same period last year, the firm posted $0.12 earnings per share. Newpark Resources’s quarterly revenue was down 8.4% on a year-over-year basis.
NR has been the topic of several research analyst reports. Zacks Investment Research cut Newpark Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Raymond James set a $12.00 target price on Newpark Resources and gave the company a “buy” rating in a research note on Wednesday, July 3rd. ValuEngine raised Newpark Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, TheStreet raised Newpark Resources from a “c+” rating to a “b-” rating in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $11.17.
Shares of NR traded down $0.08 during mid-day trading on Friday, hitting $6.95. 457,971 shares of the company’s stock traded hands, compared to its average volume of 513,258. The company has a quick ratio of 2.23, a current ratio of 3.57 and a debt-to-equity ratio of 0.32. Newpark Resources has a 1 year low of $6.06 and a 1 year high of $9.71. The firm has a market capitalization of $633.14 million, a P/E ratio of 16.95 and a beta of 1.56. The business’s 50-day moving average price is $7.32 and its 200-day moving average price is $7.38.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Newpark Resources by 17.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 57,759 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 8,446 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Newpark Resources by 8.9% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 556,035 shares of the oil and gas company’s stock valued at $4,237,000 after purchasing an additional 45,337 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Newpark Resources by 124.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 69,185 shares of the oil and gas company’s stock valued at $527,000 after purchasing an additional 38,374 shares during the last quarter. Boston Partners bought a new stake in shares of Newpark Resources in the 2nd quarter valued at approximately $2,404,000. Finally, Hillcrest Asset Management LLC lifted its stake in shares of Newpark Resources by 0.6% in the 2nd quarter. Hillcrest Asset Management LLC now owns 809,836 shares of the oil and gas company’s stock valued at $6,009,000 after purchasing an additional 4,900 shares during the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.
About Newpark Resources
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.
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