Equities research analysts predict that Newpark Resources Inc (NYSE:NR) will report $220.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Newpark Resources’ earnings. The highest sales estimate is $221.00 million and the lowest is $219.74 million. Newpark Resources posted sales of $158.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 38.8%. The firm is expected to announce its next earnings report after the market closes on Thursday, April 26th.
On average, analysts expect that Newpark Resources will report full year sales of $932.71 million for the current fiscal year, with estimates ranging from $923.00 million to $943.00 million. For the next year, analysts forecast that the business will report sales of $1.08 billion per share, with estimates ranging from $1.03 billion to $1.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Newpark Resources.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, February 8th. The oil and gas company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Newpark Resources had a positive return on equity of 1.59% and a negative net margin of 0.82%. The firm had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $202.55 million. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year.
Several brokerages recently commented on NR. Zacks Investment Research raised Newpark Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th. Cowen set a $10.00 price objective on Newpark Resources and gave the company a “hold” rating in a research report on Thursday, January 11th. ValuEngine raised Newpark Resources from a “sell” rating to a “hold” rating in a research report on Friday, April 6th. Finally, Johnson Rice raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.50.
In related news, EVP Bruce Campbell Smith sold 43,750 shares of Newpark Resources stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $8.47, for a total transaction of $370,562.50. Following the completion of the sale, the executive vice president now directly owns 292,942 shares of the company’s stock, valued at approximately $2,481,218.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in Newpark Resources during the 4th quarter worth approximately $360,000. Metropolitan Life Insurance Co. NY bought a new position in Newpark Resources during the 4th quarter worth $256,000. Crestline Management LP bought a new position in Newpark Resources during the 4th quarter worth $211,000. Guggenheim Capital LLC increased its stake in Newpark Resources by 68.8% during the 4th quarter. Guggenheim Capital LLC now owns 222,617 shares of the oil and gas company’s stock worth $1,915,000 after acquiring an additional 90,718 shares during the period. Finally, Deutsche Bank AG increased its stake in Newpark Resources by 37.0% during the 4th quarter. Deutsche Bank AG now owns 384,948 shares of the oil and gas company’s stock worth $3,309,000 after acquiring an additional 104,018 shares during the period.
NYSE NR traded up $0.05 during trading hours on Friday, hitting $9.80. 396,710 shares of the company traded hands, compared to its average volume of 513,719. Newpark Resources has a twelve month low of $6.57 and a twelve month high of $10.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.14 and a current ratio of 3.19. The stock has a market capitalization of $860.96, a PE ratio of 99.50 and a beta of 1.53.
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About Newpark Resources
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific regions.
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