Wall Street brokerages expect that CSI Compressco LP (NASDAQ:CCLP) will report $82.66 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for CSI Compressco’s earnings, with estimates ranging from $80.57 million to $86.49 million. CSI Compressco posted sales of $65.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that CSI Compressco will report full year sales of $82.66 million for the current fiscal year, with estimates ranging from $331.89 million to $410.92 million. For the next fiscal year, analysts forecast that the business will report sales of $401.59 million per share, with estimates ranging from $362.83 million to $419.14 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.05). CSI Compressco had a negative return on equity of 38.50% and a negative net margin of 13.69%. The business had revenue of $83.10 million for the quarter, compared to analyst estimates of $76.15 million.
Several brokerages have recently commented on CCLP. BidaskClub lowered shares of CSI Compressco from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Zacks Investment Research upgraded shares of CSI Compressco from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Stifel Nicolaus set a $8.00 target price on shares of CSI Compressco and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, ValuEngine lowered shares of CSI Compressco from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.33.
CSI Compressco (NASDAQ CCLP) opened at $7.38 on Friday. CSI Compressco has a 12 month low of $4.12 and a 12 month high of $10.16. The company has a market cap of $275.37, a price-to-earnings ratio of -6.25 and a beta of 1.74. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.94 and a current ratio of 1.60.
A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its position in CSI Compressco by 9.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,770 shares of the oil and gas company’s stock worth $640,000 after purchasing an additional 10,232 shares during the last quarter. WealthTrust Axiom LLC grew its position in CSI Compressco by 10.1% in the 4th quarter. WealthTrust Axiom LLC now owns 256,668 shares of the oil and gas company’s stock worth $1,403,000 after purchasing an additional 23,521 shares during the last quarter. Hudson Bay Capital Management LP grew its position in CSI Compressco by 46.6% in the 4th quarter. Hudson Bay Capital Management LP now owns 350,931 shares of the oil and gas company’s stock worth $1,920,000 after purchasing an additional 111,615 shares during the last quarter. Goldman Sachs Group Inc. grew its position in CSI Compressco by 4.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,950,641 shares of the oil and gas company’s stock worth $16,140,000 after purchasing an additional 131,654 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in CSI Compressco in the 4th quarter worth $1,150,000. Institutional investors and hedge funds own 29.55% of the company’s stock.
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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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