Newpark Resources’s “Market Perform” Rating Reaffirmed at Cowen and Company (NR)
Newpark Resources (NYSE:NR)‘s stock had its “market perform” rating restated by research analysts at Cowen and Company in a report released on Monday, ARN reports. They currently have a $13.50 target price on the stock, down from their previous target price of $14.00. Cowen and Company’s price objective suggests a potential upside of 10.02% from the company’s current price.
Newpark Resources (NYSE:NR) traded up 0.25% on Monday, hitting $12.27. 1,262,786 shares of the company’s stock traded hands. Newpark Resources has a one year low of $9.70 and a one year high of $13.64. The stock’s 50-day moving average is $11.36 and its 200-day moving average is $11.89. The company has a market cap of $1.060 billion and a price-to-earnings ratio of 17.84.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.03. The company had revenue of $242.82 million for the quarter, compared to the consensus estimate of $264.05 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Analysts expect that Newpark Resources will post $0.70 EPS for the current fiscal year.
A number of other firms have also recently commented on NR. Analysts at First Analysis upgraded shares of Newpark Resources from an “underweight” rating to an “overweight” rating in a research note on Friday, March 28th. They now have a $14.00 price target on the stock. Analysts at Capital One Financial Corp. downgraded shares of Newpark Resources from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Newpark Resources has a consensus rating of “Hold” and a consensus target price of $14.11.
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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