RBC Capital Increases Key Energy Services Price Target to $8.00 (KEG)
Research analysts at RBC Capital lifted their price target on shares of Key Energy Services (NYSE:KEG) from $7.00 to $8.00 in a report released on Thursday, American Banking and Market News reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 9.29% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Hunter Securities upgraded shares of Key Energy Services (NYSE:KEG) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, September 3rd. They now have a $8.50 price target on the stock, up previously from $7.25. Separately, analysts at Barclays Capital upgraded shares of Key Energy Services (NYSE:KEG) from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, September 3rd. They now have a $10.00 price target on the stock, up previously from $7.00. Finally, analysts at Howard Weil cut their price target on shares of Key Energy Services (NYSE:KEG) from $11.00 to $10.00 in a research note to investors on Thursday, August 29th. They now have a “sector perform” rating on the stock.
Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.13.
Shares of Key Energy Services (NYSE:KEG) traded down 7.58% during mid-day trading on Thursday, hitting $7.32. The stock had a trading volume of 4,123,937 shares. Key Energy Services has a 1-year low of $5.61 and a 1-year high of $9.57. The stock’s 50-day moving average is $6.79 and its 200-day moving average is $6.87. The company’s market cap is $1.116 billion.
Key Energy Services (NYSE:KEG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.01 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.01. The company had revenue of $411.40 million for the quarter, compared to the consensus estimate of $421.24 million. During the same quarter last year, the company posted $0.21 earnings per share. Key Energy Services’s revenue was down 20.3% compared to the same quarter last year. Analysts expect that Key Energy Services will post $0.10 EPS for the current fiscal year.
Key Energy Services, Inc (NYSE:KEG) is an onshore, rig-based well servicing contractor.
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