Analysts expect CSI Compressco LP (NASDAQ:CCLP) to post sales of $109.80 million for the current quarter, according to Zacks. Three analysts have made estimates for CSI Compressco’s earnings, with the lowest sales estimate coming in at $108.08 million and the highest estimate coming in at $112.83 million. CSI Compressco reported sales of $71.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 53.4%. The company is scheduled to announce its next earnings results on Wednesday, November 14th.
On average, analysts expect that CSI Compressco will report full-year sales of $407.29 million for the current year, with estimates ranging from $403.20 million to $414.10 million. For the next year, analysts forecast that the company will report sales of $428.82 million, with estimates ranging from $413.24 million to $443.98 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The company had revenue of $99.92 million for the quarter, compared to analyst estimates of $91.13 million. CSI Compressco had a negative net margin of 12.89% and a negative return on equity of 51.34%.
A number of equities research analysts have issued reports on CCLP shares. ValuEngine raised shares of CSI Compressco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Janney Montgomery Scott lowered shares of CSI Compressco from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, BidaskClub lowered shares of CSI Compressco from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.00.
Several hedge funds have recently added to or reduced their stakes in the stock. Hilltop Holdings Inc. lifted its stake in shares of CSI Compressco by 23.5% in the 2nd quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock valued at $542,000 after purchasing an additional 18,500 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of CSI Compressco by 4.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after purchasing an additional 179,760 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of CSI Compressco by 120.3% in the 2nd quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after purchasing an additional 168,218 shares during the last quarter. FMR LLC lifted its stake in shares of CSI Compressco by 17.9% in the 2nd quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock valued at $7,916,000 after purchasing an additional 215,651 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of CSI Compressco by 25.8% in the 1st quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock valued at $6,972,000 after purchasing an additional 196,936 shares during the last quarter. 26.04% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:CCLP traded down $0.27 during trading on Friday, reaching $5.48. 337,466 shares of the company traded hands, compared to its average volume of 121,722. The firm has a market capitalization of $219.31 million, a P/E ratio of -4.68 and a beta of 1.59. CSI Compressco has a 1-year low of $4.51 and a 1-year high of $8.05. The company has a quick ratio of 1.50, a current ratio of 2.31 and a debt-to-equity ratio of 8.65.
About CSI Compressco
CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.
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