Equities research analysts expect CSI Compressco LP (NASDAQ:CCLP) to post sales of $76.12 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for CSI Compressco’s earnings, with the highest sales estimate coming in at $78.69 million and the lowest estimate coming in at $73.02 million. CSI Compressco posted sales of $70.71 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The company is scheduled to announce its next earnings results before the market opens on Wednesday, November 8th.
On average, analysts expect that CSI Compressco will report full-year sales of $76.12 million for the current year, with estimates ranging from $289.84 million to $309.00 million. For the next financial year, analysts expect that the firm will report sales of $348.18 million per share, with estimates ranging from $316.48 million to $394.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.04. CSI Compressco had a negative net margin of 17.01% and a negative return on equity of 36.43%. The business had revenue of $75.32 million during the quarter, compared to analyst estimates of $66.64 million.
Several brokerages recently commented on CCLP. Capital One Financial Corporation restated an “equal weight” rating on shares of CSI Compressco in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of CSI Compressco from a “sell” rating to a “hold” rating in a research note on Monday. Bank of America Corporation cut their price target on shares of CSI Compressco from $6.50 to $5.00 and set an “underperform” rating for the company in a research note on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $8.00 price target on shares of CSI Compressco in a research note on Monday, August 21st. Finally, Stifel Nicolaus set a $5.00 price target on shares of CSI Compressco and gave the company a “hold” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. CSI Compressco currently has a consensus rating of “Hold” and an average target price of $6.00.
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CSI Compressco (NASDAQ:CCLP) traded down 1.91% during midday trading on Friday, hitting $5.14. 8,394 shares of the company traded hands. The firm’s market capitalization is $182.44 million. The stock’s 50-day moving average is $5.11 and its 200-day moving average is $5.58. CSI Compressco has a 12-month low of $4.12 and a 12-month high of $13.54.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Wednesday, November 1st will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 14.31%. CSI Compressco’s payout ratio is currently -50.00%.
Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of CSI Compressco by 91.7% in the 2nd quarter. FMR LLC now owns 1,353,231 shares of the oil and gas company’s stock worth $6,563,000 after purchasing an additional 647,176 shares during the period. Airain ltd acquired a new position in shares of CSI Compressco in the 2nd quarter worth approximately $796,000. Parkwood LLC lifted its position in shares of CSI Compressco by 69.8% in the 2nd quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 45,900 shares during the period. Renaissance Technologies LLC lifted its position in shares of CSI Compressco by 99.3% in the 1st quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock worth $754,000 after purchasing an additional 38,319 shares during the period. Finally, Virtu KCG Holdings LLC acquired a new position in shares of CSI Compressco in the 2nd quarter worth approximately $146,000. Institutional investors own 28.62% of the company’s stock.
About CSI Compressco
CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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