Equities research analysts expect that C&J Energy Services Inc (NYSE:CJ) will report sales of $593.19 million for the current quarter, Zacks reports. Four analysts have made estimates for C&J Energy Services’ earnings. The highest sales estimate is $611.00 million and the lowest is $568.54 million. C&J Energy Services posted sales of $442.65 million in the same quarter last year, which suggests a positive year over year growth rate of 34%. The firm is expected to report its next earnings report before the market opens on Thursday, November 1st.
According to Zacks, analysts expect that C&J Energy Services will report full year sales of $2.32 billion for the current fiscal year, with estimates ranging from $2.28 billion to $2.36 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.42 billion, with estimates ranging from $2.26 billion to $2.58 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow C&J Energy Services.
C&J Energy Services (NYSE:CJ) last issued its earnings results on Thursday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). C&J Energy Services had a return on equity of 7.52% and a net margin of 5.56%. The company had revenue of $610.52 million during the quarter, compared to analyst estimates of $598.66 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 56.5% on a year-over-year basis.
A number of brokerages have recently issued reports on CJ. Wells Fargo & Co reissued a “hold” rating on shares of C&J Energy Services in a report on Thursday, September 6th. Citigroup increased their target price on C&J Energy Services from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. BMO Capital Markets dropped their price target on C&J Energy Services from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, August 30th. ValuEngine raised C&J Energy Services from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research raised C&J Energy Services from a “sell” rating to a “hold” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.67.
Shares of CJ opened at $20.04 on Friday. C&J Energy Services has a 1 year low of $18.86 and a 1 year high of $36.57. The company has a market capitalization of $1.40 billion, a PE ratio of -143.14, a P/E/G ratio of 0.21 and a beta of 0.65.
A number of hedge funds have recently added to or reduced their stakes in CJ. BlackRock Inc. increased its holdings in C&J Energy Services by 139.2% during the 2nd quarter. BlackRock Inc. now owns 9,126,478 shares of the company’s stock valued at $215,387,000 after purchasing an additional 5,310,518 shares in the last quarter. Point72 Asset Management L.P. boosted its position in C&J Energy Services by 134.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,041,980 shares of the company’s stock valued at $71,791,000 after buying an additional 1,745,390 shares during the last quarter. Millennium Management LLC boosted its position in C&J Energy Services by 1,427.2% in the 1st quarter. Millennium Management LLC now owns 1,424,834 shares of the company’s stock valued at $36,789,000 after buying an additional 1,331,537 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in C&J Energy Services in the 2nd quarter valued at $18,648,000. Finally, Feinberg Stephen boosted its position in C&J Energy Services by 361.4% in the 2nd quarter. Feinberg Stephen now owns 691,612 shares of the company’s stock valued at $16,322,000 after buying an additional 541,712 shares during the last quarter. 99.75% of the stock is owned by hedge funds and other institutional investors.
About C&J Energy Services
C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.
See Also: Growth Stocks, What They Are, What They Are Not
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.