Expro Group (NYSE:XPRO) Shares Gap Down on Disappointing Earnings

Expro Group Holdings N.V. (NYSE:XPRO – Get Free Report)’s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $15.87, but opened at $14.79. Expro Group shares last traded at $14.1760, with a volume of 95,571 shares trading hands.

The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.08). The firm had revenue of $439.94 million during the quarter, compared to analysts’ expectations of $442.36 million. Expro Group had a net margin of 1.33% and a return on equity of 3.28%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on XPRO. Barclays reduced their target price on Expro Group from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Wall Street Zen raised Expro Group to a “hold” rating in a research report on Saturday, September 19th. Zacks Research raised Expro Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Expro Group in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Read Our Latest Stock Analysis on Expro Group

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in Expro Group in the second quarter worth $5,518,000. Public Employees Retirement System of Ohio bought a new stake in shares of Expro Group in the second quarter valued at $1,234,000. Wedge Capital Management L L P NC purchased a new position in shares of Expro Group during the 2nd quarter valued at $1,419,000. Jennison Associates LLC lifted its position in shares of Expro Group by 7.9% during the 1st quarter. Jennison Associates LLC now owns 4,699,370 shares of the company’s stock valued at $81,816,000 after buying an additional 342,449 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Expro Group during the 2nd quarter valued at $2,550,000. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

Expro Group Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.69 and a current ratio of 2.05. The company has a market cap of $1.61 billion, a P/E ratio of 79.64 and a beta of 0.96. The firm has a 50 day moving average price of $16.87 and a two-hundred day moving average price of $16.49.

Expro Group Company Profile

(Get Free Report)

Expro Group, Inc provides energy services and technologies that support the exploration, development, and production of oil and natural gas wells. The company helps operators manage wells throughout their life cycles, from drilling and completion through production, intervention, and abandonment.

Its offerings include well construction and well management services, well flow management, subsea services, and well intervention and integrity solutions. These services are designed to improve operational efficiency, safety, well performance, and reservoir recovery in both offshore and onshore environments.

Headquartered in Houston, Texas, Expro serves energy companies across major oil and gas producing regions worldwide, including North America, the North Sea, the Middle East, Africa, Asia-Pacific, and Latin America.

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