Key Energy Services Price Target Increased to $9.00 by Analysts at Goldman Sachs (KEG)
Goldman Sachs lifted their price objective on shares of Key Energy Services (NYSE:KEG) from $8.50 to $9.00 in a research note issued on Thursday. Goldman Sachs’ target price indicates a potential upside of 4.53% from the company’s current price.
Shares of Key Energy Services (NYSE:KEG) traded down 3.69% during mid-day trading on Thursday, hitting $8.61. 1,782,311 shares of the company’s stock traded hands. Key Energy Services has a 1-year low of $6.06 and a 1-year high of $10.52. The stock’s 50-day moving average is $8.57 and its 200-day moving average is $8.50. The company’s market cap is $1.321 billion. Key Energy Services also saw a significant decrease in short interest in the month of June. As of June 13th, there was short interest totalling 6,189,134 shares, a decrease of 24.2% from the May 30th total of 8,161,533 shares. Based on an average trading volume of 2,124,278 shares, the short-interest ratio is presently 2.9 days. Approximately 4.2% of the shares of the company are short sold.
Key Energy Services (NYSE:KEG) last released its earnings data on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Analysts expect that Key Energy Services will post $0.05 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on KEG. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Key Energy Services in a research note on Thursday, June 5th. They now have a $11.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Key Energy Services from a “sell” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, analysts at Cowen and Company raised their price target on shares of Key Energy Services from $8.50 to $9.00 in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $10.26.
Key Energy Services, Inc (NYSE:KEG) is an onshore, rig-based well servicing contractor.
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