NCS Multistage (NCSM) Hits New 12-Month Low on Disappointing Earnings

Shares of NCS Multistage Holdings Inc (NASDAQ:NCSM) reached a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $7.69 and last traded at $7.70, with a volume of 36191 shares traded. The stock had previously closed at $12.45.

The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). NCS Multistage had a net margin of 3.16% and a return on equity of 2.80%. The company had revenue of $62.69 million during the quarter, compared to analyst estimates of $77.71 million.

Several brokerages recently issued reports on NCSM. BidaskClub upgraded NCS Multistage from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet downgraded NCS Multistage from a “c-” rating to a “d+” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded NCS Multistage from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Wells Fargo & Co downgraded NCS Multistage from an “outperform” rating to a “market perform” rating and set a $15.00 price target for the company. in a research note on Monday, October 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.86.

In other news, CAO Wade Bitter sold 12,750 shares of NCS Multistage stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $16.27, for a total transaction of $207,442.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 13,650 shares of company stock worth $222,083 in the last three months. 11.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Viking Fund Management LLC purchased a new position in NCS Multistage during the 3rd quarter worth approximately $165,000. JPMorgan Chase & Co. grew its position in NCS Multistage by 54.5% during the 1st quarter. JPMorgan Chase & Co. now owns 12,257 shares of the company’s stock worth $184,000 after purchasing an additional 4,322 shares in the last quarter. Millennium Management LLC purchased a new position in NCS Multistage during the 1st quarter worth approximately $257,000. Energy Opportunities Capital Management LLC purchased a new position in NCS Multistage during the 2nd quarter worth approximately $259,000. Finally, Gagnon Securities LLC boosted its stake in shares of NCS Multistage by 40.2% during the 2nd quarter. Gagnon Securities LLC now owns 36,026 shares of the company’s stock valued at $523,000 after buying an additional 10,328 shares during the period. 95.87% of the stock is currently owned by institutional investors.

The company has a market cap of $547.44 million, a PE ratio of 38.93 and a beta of 2.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.73 and a current ratio of 3.74.

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NCS Multistage Company Profile (NASDAQ:NCSM)

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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