Analysts Expect CARBO Ceramics Inc. (CRR) to Post -$0.46 Earnings Per Share

Equities research analysts expect CARBO Ceramics Inc. (NYSE:CRR) to post ($0.46) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CARBO Ceramics’ earnings, with the lowest EPS estimate coming in at ($0.48) and the highest estimate coming in at ($0.44). CARBO Ceramics reported earnings per share of ($0.65) during the same quarter last year, which would suggest a positive year over year growth rate of 29.2%. The business is scheduled to announce its next earnings report on Thursday, January 24th.

According to Zacks, analysts expect that CARBO Ceramics will report full year earnings of ($2.31) per share for the current year, with EPS estimates ranging from ($2.48) to ($2.11). For the next year, analysts anticipate that the company will report earnings of ($0.76) per share, with EPS estimates ranging from ($0.94) to ($0.66). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow CARBO Ceramics.

CARBO Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.24). CARBO Ceramics had a negative return on equity of 18.72% and a negative net margin of 32.14%. The company had revenue of $53.82 million during the quarter, compared to the consensus estimate of $66.76 million.

Several analysts recently commented on CRR shares. Zacks Investment Research downgraded CARBO Ceramics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. OTR Global downgraded CARBO Ceramics to an “underperform” rating in a research note on Tuesday, July 24th. Piper Jaffray Companies set a $9.00 price objective on CARBO Ceramics and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine downgraded CARBO Ceramics from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.00.

Institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. raised its stake in shares of CARBO Ceramics by 38.7% in the 1st quarter. Brown Advisory Inc. now owns 21,176 shares of the oil and gas company’s stock valued at $153,000 after purchasing an additional 5,910 shares during the period. Stifel Financial Corp raised its stake in shares of CARBO Ceramics by 6.9% in the 1st quarter. Stifel Financial Corp now owns 99,570 shares of the oil and gas company’s stock valued at $726,000 after purchasing an additional 6,435 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of CARBO Ceramics by 1.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock valued at $4,744,000 after purchasing an additional 6,944 shares during the period. Northern Trust Corp raised its stake in shares of CARBO Ceramics by 3.4% in the 1st quarter. Northern Trust Corp now owns 278,858 shares of the oil and gas company’s stock valued at $2,022,000 after purchasing an additional 9,218 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of CARBO Ceramics by 66.3% in the 2nd quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 9,780 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:CRR traded up $0.18 during midday trading on Wednesday, hitting $5.15. The company had a trading volume of 345,715 shares, compared to its average volume of 506,975. CARBO Ceramics has a 12 month low of $4.50 and a 12 month high of $12.69. 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 firm has a market capitalization of $139.73 million, a P/E ratio of -1.37 and a beta of 1.56.

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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Earnings History and Estimates for CARBO Ceramics (NYSE:CRR)

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