NCS Multistage (NASDAQ:NCSM) Posts Earnings Results, Misses Estimates By $0.83 EPS

NCS Multistage (NASDAQ:NCSM) announced its quarterly earnings results on Thursday. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.83), Zacks reports. The business had revenue of $38.36 million for the quarter, compared to analysts’ expectations of $37.60 million. NCS Multistage had a return on equity of 2.41% and a net margin of 7.61%.

NCS Multistage Stock Up 3.5%

NCSM stock traded up $1.58 during mid-day trading on Friday, hitting $47.00. 7,149 shares of the company were exchanged, compared to its average volume of 10,599. The firm has a fifty day simple moving average of $47.24 and a 200 day simple moving average of $50.43. The company has a market capitalization of $123.14 million, a PE ratio of 9.67 and a beta of 0.16. NCS Multistage has a twelve month low of $29.48 and a twelve month high of $87.36. The company has a current ratio of 5.35, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

NCSM has been the topic of several recent research reports. Wall Street Zen raised NCS Multistage to a “hold” rating in a research report on Saturday, July 18th. Zacks Research upgraded shares of NCS Multistage from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings downgraded NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Institutional Trading of NCS Multistage

Several institutional investors and hedge funds have recently bought and sold shares of NCSM. PNC Financial Services Group Inc. increased its holdings in shares of NCS Multistage by 342.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock valued at $44,000 after acquiring an additional 668 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of NCS Multistage in the 3rd quarter valued at about $299,000. NewEdge Advisors LLC raised its stake in NCS Multistage by 3,774.4% during the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after acquiring an additional 7,964 shares during the period. Geode Capital Management LLC boosted its stake in NCS Multistage by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 10,153 shares of the company’s stock valued at $401,000 after acquiring an additional 411 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of NCS Multistage by 7.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 17,473 shares of the company’s stock worth $892,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 70.91% of the company’s stock.

About NCS Multistage

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.