Newpark Resources Stock Rating Reaffirmed by Raymond James (NR)
Newpark Resources (NYSE:NR)‘s stock had its “buy” rating reiterated by Raymond James in a research note issued on Monday, Stock Ratings Network reports. They currently have a $14.50 price target on the stock. Raymond James’ price objective would suggest a potential upside of 10.27% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Global Hunter Securities cut their price target on shares of Newpark Resources from $14.00 to $13.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Cowen and Company reiterated a “market perform” rating on shares of Newpark Resources in a research note to investors on Wednesday, October 9th. Finally, analysts at Clarkson Capital upgraded shares of Newpark Resources from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Newpark Resources currently has an average rating of “Hold” and an average price target of $12.96.
Shares of Newpark Resources (NYSE:NR) traded down 2.97% during mid-day trading on Monday, hitting $12.76. 167,571 shares of the company’s stock traded hands. Newpark Resources has a 52-week low of $6.29 and a 52-week high of $13.21. The stock has a 50-day moving average of $11.99 and a 200-day moving average of $11.12. The company has a market cap of $1.117 billion and a P/E ratio of 19.80.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.02. The company had revenue of $276.62 million for the quarter, compared to the consensus estimate of $272.03 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Newpark Resources will post $0.79 earnings per share for the current fiscal year.
Newpark Resources, Inc, is a diversified oil and gas supplier providing products and services primarily to the oil and gases exploration (NYSE:NR) industry.
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