Brokerages forecast that Key Energy Services Inc (NYSE:KEG) will report $129.13 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Key Energy Services’ earnings. The lowest sales estimate is $118.10 million and the highest is $138.00 million. Key Energy Services posted sales of $144.41 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.6%. The business is expected to issue its next earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Key Energy Services will report full year sales of $520.53 million for the current fiscal year, with estimates ranging from $461.90 million to $583.50 million. For the next financial year, analysts anticipate that the company will report sales of $591.60 million, with estimates ranging from $478.80 million to $691.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Key Energy Services.
Key Energy Services (NYSE:KEG) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($1.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.06). Key Energy Services had a negative return on equity of 383.21% and a negative net margin of 17.26%. The firm had revenue of $109.27 million during the quarter, compared to analysts’ expectations of $120.53 million.
Several research firms have issued reports on KEG. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.94.
NYSE KEG traded down $0.18 on Friday, hitting $2.84. The stock had a trading volume of 129,899 shares, compared to its average volume of 315,319. The business has a fifty day moving average of $2.25. The company has a debt-to-equity ratio of 10.51, a quick ratio of 1.32 and a current ratio of 1.48. Key Energy Services has a 52-week low of $1.59 and a 52-week high of $17.44. The company has a market capitalization of $57.83 million, a PE ratio of -0.63 and a beta of 3.95.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners grew its holdings in shares of Key Energy Services by 3.5% during the first quarter. Boston Partners now owns 215,873 shares of the oil and gas company’s stock valued at $876,000 after buying an additional 7,240 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in Key Energy Services during the first quarter valued at $52,000. Two Sigma Advisers LP acquired a new position in Key Energy Services during the fourth quarter valued at $38,000. D. E. Shaw & Co. Inc. lifted its position in Key Energy Services by 34.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,258 shares of the oil and gas company’s stock valued at $189,000 after purchasing an additional 23,463 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Key Energy Services during the fourth quarter valued at $189,000. 47.97% of the stock is currently owned by hedge funds and other institutional investors.
Key Energy Services Company Profile
Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. It operates through Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services segments. The Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their useful lives, as well as provision of specialty drilling services to oil and natural gas producers.
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