Newpark Resources Inc (NYSE:NR) Expected to Post Quarterly Sales of $224.28 Million

Analysts expect Newpark Resources Inc (NYSE:NR) to post $224.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Newpark Resources’ earnings. The highest sales estimate is $224.30 million and the lowest is $224.25 million. Newpark Resources posted sales of $235.33 million during the same quarter last year, which suggests a negative year over year growth rate of 4.7%. The company is expected to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Newpark Resources will report full-year sales of $858.27 million for the current year, with estimates ranging from $833.30 million to $883.23 million. For the next fiscal year, analysts expect that the firm will report sales of $1.04 billion, with estimates ranging from $977.70 million to $1.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Newpark Resources.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $216.41 million during the quarter, compared to analyst estimates of $216.63 million. Newpark Resources had a return on equity of 5.10% and a net margin of 2.17%. Newpark Resources’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS.

A number of equities analysts have commented on NR shares. ValuEngine raised Newpark Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet downgraded Newpark Resources from a “b” rating to a “c+” rating in a research report on Friday, April 26th. Raymond James set a $12.00 target price on Newpark Resources and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Zacks Investment Research downgraded Newpark Resources from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Newpark Resources stock traded down $0.04 on Thursday, reaching $6.66. The company’s stock had a trading volume of 175,600 shares, compared to its average volume of 524,141. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 3.57. The company has a market cap of $651.15 million, a price-to-earnings ratio of 16.24 and a beta of 1.48. The business’s fifty day moving average price is $7.03 and its 200 day moving average price is $7.88. Newpark Resources has a twelve month low of $6.29 and a twelve month high of $11.25.

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Newpark Resources by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 751,279 shares of the oil and gas company’s stock valued at $5,161,000 after purchasing an additional 3,961 shares during the last quarter. Legal & General Group Plc increased its holdings in Newpark Resources by 11.5% in the fourth quarter. Legal & General Group Plc now owns 231,854 shares of the oil and gas company’s stock valued at $1,594,000 after purchasing an additional 23,891 shares during the last quarter. BTIM Corp. increased its holdings in Newpark Resources by 7.9% in the first quarter. BTIM Corp. now owns 1,072,557 shares of the oil and gas company’s stock valued at $9,825,000 after purchasing an additional 78,675 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Newpark Resources by 6.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock valued at $30,143,000 after purchasing an additional 212,325 shares during the last quarter. Finally, Norges Bank bought a new stake in Newpark Resources in the fourth quarter valued at about $7,143,000. Institutional investors own 98.65% of the company’s stock.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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Earnings History and Estimates for Newpark Resources (NYSE:NR)

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