Nuverra Environmental Solutions Trading Down 14.8% After Earnings Miss (NES)
Nuverra Environmental Solutions (NYSE:NES)’s share price dropped 14.8% during trading on Friday following a dissappointing earnings announcement, Analyst RN reports. The stock traded as low as $15.02 and last traded at $15.27, with a volume of 772,522 shares. The stock had previously closed at $17.92.
The company reported ($0.91) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.22) by $0.69. The company had revenue of $156.60 million for the quarter, compared to the consensus estimate of $144.80 million. During the same quarter in the prior year, the company posted ($0.50) earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis.
Separately, analysts at Craig Hallum upgraded shares of Nuverra Environmental Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, June 18th. They now have a $19.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.00.
The stock has a 50-day moving average of $18.40 and a 200-day moving average of $17.29. The company’s market cap is $392.8 million.
Nuverra Environmental Solutions, Inc, formerly Heckmann Corporation, provides environmental solutions to protect, enhance and advance environmental sustainability.
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