Wall Street brokerages forecast that Newpark Resources Inc (NYSE:NR) will announce sales of $224.28 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Newpark Resources’ earnings, with estimates ranging from $224.25 million to $224.30 million. Newpark Resources posted sales of $235.33 million in the same quarter last year, which suggests a negative year over year growth rate of 4.7%. The business is expected to report its next earnings results on Thursday, October 24th.
On average, analysts expect that Newpark Resources will report full-year sales of $858.27 million for the current financial year, with estimates ranging from $833.30 million to $883.23 million. For the next financial year, analysts expect that the firm will post sales of $1.04 billion, with estimates ranging from $977.70 million to $1.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Newpark Resources.
Newpark Resources (NYSE:NR) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $216.41 million during the quarter, compared to analysts’ expectations of $216.63 million. Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. Newpark Resources’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share.
NR has been the subject of several research reports. ValuEngine raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet cut shares of Newpark Resources from a “b” rating to a “c+” rating in a research report on Friday, April 26th. Zacks Investment Research cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Raymond James set a $12.00 price objective on shares of Newpark Resources and gave the company a “buy” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Newpark Resources presently has an average rating of “Hold” and an average target price of $12.00.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Newpark Resources by 1.3% in the 2nd quarter. BlackRock Inc. now owns 13,930,043 shares of the oil and gas company’s stock worth $103,362,000 after purchasing an additional 183,794 shares during the period. Vanguard Group Inc. lifted its position in shares of Newpark Resources by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 9,254,746 shares of the oil and gas company’s stock worth $68,671,000 after purchasing an additional 146,060 shares during the period. Clearbridge Investments LLC lifted its position in shares of Newpark Resources by 9.5% in the 1st quarter. Clearbridge Investments LLC now owns 4,371,575 shares of the oil and gas company’s stock worth $40,044,000 after purchasing an additional 379,267 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Newpark Resources by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,559,016 shares of the oil and gas company’s stock worth $26,408,000 after purchasing an additional 99,501 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Newpark Resources by 6.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock worth $30,143,000 after purchasing an additional 212,325 shares during the period. 98.65% of the stock is owned by hedge funds and other institutional investors.
Newpark Resources stock traded down $0.04 during trading hours on Thursday, hitting $6.66. The company had a trading volume of 175,600 shares, compared to its average volume of 524,141. The firm has a market cap of $651.15 million, a P/E ratio of 16.24 and a beta of 1.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 3.57. Newpark Resources has a 1 year low of $6.29 and a 1 year high of $11.25. The company has a 50-day moving average price of $7.03 and a two-hundred day moving average price of $7.88.
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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