Wall Street analysts expect that Key Energy Services (NYSE:KEG) will announce sales of $120.20 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Key Energy Services’ earnings. The lowest sales estimate is $113.00 million and the highest is $125.00 million. Key Energy Services posted sales of $101.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.5%. The business is scheduled to issue its next earnings report on Wednesday, May 9th.
On average, analysts expect that Key Energy Services will report full-year sales of $556.01 million for the current fiscal year, with estimates ranging from $542.00 million to $572.70 million. For the next financial year, analysts anticipate that the company will post sales of $665.00 million per share, with estimates ranging from $613.30 million to $711.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Key Energy Services.
Key Energy Services (NYSE:KEG) last posted its quarterly earnings data on Monday, February 26th. The oil and gas company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.33) by ($0.01). The business had revenue of $116.28 million for the quarter, compared to the consensus estimate of $112.90 million.
KEG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Key Energy Services from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, January 23rd. Piper Jaffray set a $17.00 price objective on shares of Key Energy Services and gave the stock a “buy” rating in a research note on Sunday, April 1st. ValuEngine raised shares of Key Energy Services from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Deutsche Bank initiated coverage on shares of Key Energy Services in a research note on Friday, March 16th. They set a “hold” rating and a $17.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.00.
NYSE KEG traded up $0.54 on Friday, hitting $15.64. 76,699 shares of the stock were exchanged, compared to its average volume of 118,677. The firm has a market capitalization of $294.57, a price-to-earnings ratio of -2.49 and a beta of 2.82. Key Energy Services has a 52-week low of $8.20 and a 52-week high of $24.79.
Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in shares of Key Energy Services during the fourth quarter valued at $179,000. Deutsche Bank AG boosted its stake in shares of Key Energy Services by 149.4% during the fourth quarter. Deutsche Bank AG now owns 24,319 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 14,567 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Key Energy Services by 334.4% during the third quarter. Nationwide Fund Advisors now owns 24,420 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 18,798 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Key Energy Services by 17.3% during the third quarter. Bank of New York Mellon Corp now owns 39,914 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 5,874 shares during the period. Finally, Gardner Lewis Asset Management L P boosted its stake in shares of Key Energy Services by 127.4% during the fourth quarter. Gardner Lewis Asset Management L P now owns 68,229 shares of the oil and gas company’s stock valued at $804,000 after purchasing an additional 38,230 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.
About Key Energy Services
Key Energy Services, Inc engages in onshore energy production services. It operates through the following segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, International, and Functional Support. The U.S. Rig Services segment includes the completion of newly drilled wells, workover and recompletion of existing oil and natural gas wells, well maintenance, and the plugging and abandonment of wells.
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