Equities analysts expect Basic Energy Services Inc (NYSE:BAS) to announce earnings of ($0.70) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Basic Energy Services’ earnings. The highest EPS estimate is ($0.60) and the lowest is ($0.81). Basic Energy Services reported earnings of ($0.55) per share in the same quarter last year, which suggests a negative year over year growth rate of 27.3%. The company is expected to issue its next earnings report on Monday, February 25th.
On average, analysts expect that Basic Energy Services will report full year earnings of ($3.15) per share for the current fiscal year, with EPS estimates ranging from ($3.31) to ($2.98). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.69) per share, with EPS estimates ranging from ($2.39) to ($0.60). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Basic Energy Services.
Basic Energy Services (NYSE:BAS) last posted its earnings results on Tuesday, July 31st. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.21). The company had revenue of $253.37 million for the quarter, compared to analyst estimates of $257.50 million. Basic Energy Services had a negative return on equity of 20.44% and a negative net margin of 10.94%.
Separately, ValuEngine lowered Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.43.
In other Basic Energy Services news, major shareholder Ascribe Capital Llc acquired 54,328 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was acquired at an average cost of $7.42 per share, for a total transaction of $403,113.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 3,300 shares of company stock valued at $31,893 over the last quarter. 1.95% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc grew its position in shares of Basic Energy Services by 244.4% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 6,600 shares during the period. Penn Capital Management Co. Inc. acquired a new position in shares of Basic Energy Services in the 2nd quarter valued at approximately $131,000. Macquarie Group Ltd. grew its position in shares of Basic Energy Services by 408.3% in the 2nd quarter. Macquarie Group Ltd. now owns 18,300 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 14,700 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Basic Energy Services in the 2nd quarter valued at approximately $220,000. Finally, OppenheimerFunds Inc. grew its position in shares of Basic Energy Services by 112.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 23,800 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 12,600 shares during the period. Institutional investors and hedge funds own 98.69% of the company’s stock.
Basic Energy Services stock opened at $8.45 on Wednesday. Basic Energy Services has a 1 year low of $7.20 and a 1 year high of $26.75. The company has a current ratio of 1.49, a quick ratio of 1.30 and a debt-to-equity ratio of 0.99.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.
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