Key Energy Services, Inc. (KEG) Issues Q2 Earnings Guidance
Key Energy Services, Inc. (NYSE:KEG) issued an update on its second quarter earnings guidance on Friday morning. The company provided EPS guidance of ($0.14-0.15) for the period, compared to the Thomson Reuters consensus EPS estimate of $0.00, Analyst Ratings Network reports. The company issued revenue guidance of down ~2% vs Q1 to ~$349 million, compared to the consensus revenue estimate of $380.22 million.
Shares of Key Energy Services, Inc. (NYSE:KEG) opened at 8.37 on Friday. Key Energy Services, Inc. has a 52 week low of $6.06 and a 52 week high of $10.52. The stock has a 50-day moving average of $8.58 and a 200-day moving average of $8.51. The company’s market cap is $1.284 billion.
Key Energy Services (NYSE:KEG) last announced its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.01. On average, analysts predict that Key Energy Services, Inc. will post $0.05 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on KEG shares. Analysts at Robert W. Baird initiated coverage on shares of Key Energy Services in a research note on Tuesday. They set an outperform rating and a $11.00 price target on the stock. On a related note, analysts at Goldman Sachs raised their price target on shares of Key Energy Services from $8.50 to $9.00 in a research note on Thursday, July 10th. Finally, 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Key Energy Services has an average rating of Hold and an average target price of $10.33.
Key Energy Services, Inc (NYSE:KEG) is an onshore, rig-based well servicing contractor.
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