National Energy Services Reunited (NASDAQ:NESR – Get Free Report) released its quarterly earnings results on Monday. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05, Briefing.com reports. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm’s quarterly revenue was up 33.5% on a year-over-year basis.
National Energy Services Reunited Price Performance
Shares of NASDAQ NESR opened at $23.10 on Monday. The company has a 50 day simple moving average of $22.70 and a two-hundred day simple moving average of $18.65. National Energy Services Reunited has a fifty-two week low of $5.47 and a fifty-two week high of $26.85. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 43.59, a P/E/G ratio of 0.35 and a beta of 0.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04.
Wall Street Analysts Forecast Growth
NESR has been the subject of several research analyst reports. Barclays raised their target price on shares of National Energy Services Reunited from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 20th. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Maxim Group set a $30.00 target price on National Energy Services Reunited in a report on Monday, January 12th. Finally, BTIG Research increased their target price on National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.
Institutional Trading of National Energy Services Reunited
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its stake in National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after buying an additional 149,796 shares during the last quarter. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at $1,425,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at $48,000. Geode Capital Management LLC raised its position in shares of National Energy Services Reunited by 2,227.2% in the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after purchasing an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.
About National Energy Services Reunited
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.
Featured Stories
- Five stocks we like better than National Energy Services Reunited
- The Stars Are Aligning For Apple: Get Ready for $300
- 3 Small-Cap Stocks to Buy as the Russell 2000 Extends Its Rally
- Tapestry Stock Drops After Strong Quarter and Raised Outlook
- 3 Companies Quietly Essential to Data Center and AI Operations
Receive News & Ratings for National Energy Services Reunited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Energy Services Reunited and related companies with MarketBeat.com's FREE daily email newsletter.
