C&J Energy Services Inc (NYSE:CJ) – Equities research analysts at Piper Jaffray Companies reduced their Q1 2020 earnings per share (EPS) estimates for shares of C&J Energy Services in a report issued on Tuesday, November 6th. Piper Jaffray Companies analyst J. Daniel now forecasts that the company will post earnings per share of $0.29 for the quarter, down from their prior forecast of $0.31. Piper Jaffray Companies currently has a “Buy” rating and a $29.00 target price on the stock. Piper Jaffray Companies also issued estimates for C&J Energy Services’ Q2 2020 earnings at $0.37 EPS, Q3 2020 earnings at $0.41 EPS and FY2020 earnings at $1.52 EPS.
C&J Energy Services (NYSE:CJ) last posted its earnings results on Thursday, November 1st. The company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. C&J Energy Services had a net margin of 5.24% and a return on equity of 7.19%. The firm had revenue of $567.92 million during the quarter, compared to the consensus estimate of $586.66 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis.
Other analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of C&J Energy Services from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 31st. Bank of America assumed coverage on shares of C&J Energy Services in a research note on Wednesday, October 17th. They issued a “buy” rating for the company. BMO Capital Markets restated a “buy” rating and issued a $27.00 price target on shares of C&J Energy Services in a research note on Monday. Jefferies Financial Group set a $25.00 price target on shares of C&J Energy Services and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Finally, ValuEngine downgraded shares of C&J Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.69.
C&J Energy Services stock opened at $20.48 on Wednesday. C&J Energy Services has a fifty-two week low of $16.82 and a fifty-two week high of $36.57. The company has a market capitalization of $1.40 billion, a P/E ratio of -146.29, a P/E/G ratio of 0.21 and a beta of 0.78.
Several hedge funds have recently modified their holdings of CJ. Neuburgh Advisers LLC acquired a new position in shares of C&J Energy Services during the second quarter worth $176,000. NumerixS Investment Technologies Inc acquired a new position in shares of C&J Energy Services during the second quarter worth $191,000. Riverhead Capital Management LLC acquired a new position in shares of C&J Energy Services during the second quarter worth $194,000. Principal Financial Group Inc. acquired a new position in shares of C&J Energy Services during the first quarter worth $215,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of C&J Energy Services during the third quarter worth $215,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.
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.
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