Wall Street analysts expect CARBO Ceramics Inc. (NYSE:CRR) to announce sales of $48.16 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for CARBO Ceramics’ earnings, with the lowest sales estimate coming in at $48.10 million and the highest estimate coming in at $48.22 million. CARBO Ceramics reported sales of $60.34 million in the same quarter last year, which indicates a negative year-over-year growth rate of 20.2%. The firm is scheduled to announce its next earnings results on Thursday, January 24th.
On average, analysts expect that CARBO Ceramics will report full year sales of $209.35 million for the current fiscal year, with estimates ranging from $209.30 million to $209.40 million. For the next financial year, analysts anticipate that the company will post sales of $228.56 million, with estimates ranging from $220.82 million to $236.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for CARBO Ceramics.
CARBO Ceramics (NYSE:CRR) last released its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.24). The business had revenue of $53.82 million during the quarter, compared to analyst estimates of $66.76 million. CARBO Ceramics had a negative return on equity of 18.72% and a negative net margin of 32.14%.
A number of brokerages have weighed in on CRR. OTR Global cut shares of CARBO Ceramics to an “underperform” rating in a research report on Tuesday, July 24th. ValuEngine downgraded shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Zacks Investment Research upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Finally, Piper Jaffray Companies set a $9.00 price target on shares of CARBO Ceramics and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $8.00.
CRR traded up $0.09 during midday trading on Friday, hitting $5.13. 6,384 shares of the company traded hands, compared to its average volume of 394,801. The company has a quick ratio of 1.87, a current ratio of 3.07 and a debt-to-equity ratio of 0.17. The company has a market cap of $139.73 million, a price-to-earnings ratio of -1.37 and a beta of 1.56. CARBO Ceramics has a 52-week low of $4.50 and a 52-week high of $12.69.
A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in CARBO Ceramics by 66.3% in the second quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 9,780 shares during the last quarter. FMR LLC lifted its position in shares of CARBO Ceramics by 4.0% during the 2nd quarter. FMR LLC now owns 3,672,467 shares of the oil and gas company’s stock worth $33,676,000 after buying an additional 140,400 shares during the last quarter. BlackRock Inc. lifted its position in shares of CARBO Ceramics by 4.6% during the 2nd quarter. BlackRock Inc. now owns 2,961,569 shares of the oil and gas company’s stock worth $27,159,000 after buying an additional 129,138 shares during the last quarter. Spark Investment Management LLC purchased a new stake in shares of CARBO Ceramics during the 2nd quarter worth approximately $304,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of CARBO Ceramics by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock worth $4,744,000 after buying an additional 6,944 shares during the last quarter. Institutional investors own 81.16% of the company’s stock.
CARBO Ceramics Company Profile
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.
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