Wall Street brokerages expect C&J Energy Services Inc (NYSE:CJ) to announce $0.26 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for C&J Energy Services’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.22. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that C&J Energy Services will report full-year earnings of ($0.04) per share for the current year, with EPS estimates ranging from ($0.10) to $0.04. For the next year, analysts expect that the firm will report earnings of $2.63 per share, with EPS estimates ranging from $2.32 to $3.09. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover C&J Energy Services.
C&J Energy Services (NYSE:CJ) last posted its earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.10. The company had revenue of $442.70 million during the quarter, compared to the consensus estimate of $445.87 million. During the same quarter in the prior year, the business earned ($0.61) EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year.
A number of research analysts have recently weighed in on CJ shares. Morgan Stanley upgraded C&J Energy Services from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Tuesday, November 14th. Jefferies Group set a $40.00 target price on C&J Energy Services and gave the company a “buy” rating in a report on Thursday, January 4th. Zacks Investment Research upgraded C&J Energy Services from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, December 15th. Deutsche Bank restated a “buy” rating and issued a $39.00 target price on shares of C&J Energy Services in a report on Tuesday, October 10th. Finally, ValuEngine lowered C&J Energy Services from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. C&J Energy Services presently has an average rating of “Buy” and a consensus price target of $40.92.
In related news, insider Tim Wallace sold 2,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $29.56, for a total transaction of $59,120.00. Following the completion of the sale, the insider now directly owns 12,248 shares of the company’s stock, valued at $362,050.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Alternative Asset Manage Solus sold 632,530 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $29.59, for a total value of $18,716,562.70. The disclosure for this sale can be found here. Insiders have sold 1,087,330 shares of company stock valued at $32,189,684 over the last ninety days.
A number of large investors have recently added to or reduced their stakes in CJ. Vanguard Group Inc. purchased a new stake in C&J Energy Services in the second quarter worth $155,777,000. BlackRock Inc. increased its position in C&J Energy Services by 43,395.0% in the second quarter. BlackRock Inc. now owns 3,454,373 shares of the company’s stock worth $118,380,000 after buying an additional 3,446,431 shares during the last quarter. Wells Fargo & Company MN increased its position in C&J Energy Services by 53.6% in the third quarter. Wells Fargo & Company MN now owns 3,296,492 shares of the company’s stock worth $98,795,000 after buying an additional 1,150,327 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in C&J Energy Services by 31.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,331,707 shares of the company’s stock worth $99,851,000 after buying an additional 799,417 shares during the last quarter. Finally, TVR Capital Management LP purchased a new stake in C&J Energy Services in the second quarter worth $24,053,000. 96.41% of the stock is owned by institutional investors and hedge funds.
C&J Energy Services (NYSE CJ) opened at $28.09 on Friday. C&J Energy Services has a fifty-two week low of $24.30 and a fifty-two week high of $45.20.
TRADEMARK VIOLATION NOTICE: This piece was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/06/0-26-earnings-per-share-expected-for-cj-energy-services-inc-cj-this-quarter-2.html.
C&J Energy Services Company Profile
C&J Energy Services, Inc is a completion and production services company, which provides well construction, well completions and well services to the oil and gas industry. The Company operates through three segments: Completion Services, Well Support Services and Other Services. The Company also manufactures, repairs and refurbishes equipment used in the oilfield services industry.
Get a free copy of the Zacks research report on C&J Energy Services (CJ)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for C&J Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C&J Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.