Wall Street analysts expect that National Energy Services Reunited Corp (NASDAQ:NESR) will post $147.16 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for National Energy Services Reunited’s earnings. The lowest sales estimate is $145.04 million and the highest is $149.28 million. The company is scheduled to report its next quarterly earnings report on Monday, May 13th.
On average, analysts expect that National Energy Services Reunited will report full-year sales of $642.21 million for the current year, with estimates ranging from $630.90 million to $653.52 million. For the next year, analysts forecast that the firm will report sales of $765.29 million, with estimates ranging from $707.10 million to $823.48 million. Zacks’ sales averages are an average based on a survey of research firms that cover National Energy Services Reunited.
A number of analysts have recently commented on the company. Zacks Investment Research cut National Energy Services Reunited from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 24th. Wolfe Research assumed coverage on National Energy Services Reunited in a research note on Friday, March 8th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a research note on Wednesday, February 20th. They issued an “overweight” rating and a $13.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $15.00.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Tibra Equities Europe Ltd acquired a new position in shares of National Energy Services Reunited in the 1st quarter valued at approximately $1,446,000. Deutsche Bank AG acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at approximately $34,000. Geode Capital Management LLC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at approximately $136,000. FMR LLC grew its position in shares of National Energy Services Reunited by 22.0% in the 4th quarter. FMR LLC now owns 1,112,839 shares of the company’s stock valued at $9,637,000 after purchasing an additional 200,922 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at approximately $1,527,000. Institutional investors and hedge funds own 10.00% of the company’s stock.
Shares of NESR stock traded down $0.07 on Monday, reaching $10.55. The company had a trading volume of 132,203 shares, compared to its average volume of 173,135. The company has a quick ratio of 1.08, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. National Energy Services Reunited has a 12 month low of $7.42 and a 12 month high of $14.38.
About National Energy Services Reunited
National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.
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