National Energy Services Reunited (NASDAQ:NESR) Sets New 52-Week High Following Earnings Beat

National Energy Services Reunited (NASDAQ:NESR)’s share price hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $22.50 and last traded at $22.4030, with a volume of 246434 shares traded. The stock had previously closed at $20.83.

The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. The business had revenue of $398.26 million for the quarter. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The company’s quarterly revenue was up 15.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NESR shares. National Bank Financial set a $21.00 target price on National Energy Services Reunited in a report on Friday, January 9th. Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. BTIG Research boosted their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wall Street Zen cut shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Finally, Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after purchasing an additional 1,499 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of National Energy Services Reunited during the third quarter worth about $34,000. Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited in the second quarter valued at approximately $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of National Energy Services Reunited in the second quarter valued at approximately $37,000. Finally, Acadian Asset Management LLC purchased a new stake in National Energy Services Reunited during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 0.60 and a beta of 0.25. The stock’s fifty day simple moving average is $17.68 and its 200-day simple moving average is $13.23.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.