Newpark Resources Receives Consensus Rating of “Hold” from Brokerages (NYSE:NR)
Shares of Newpark Resources (NYSE:NR) have earned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, AnalystRatings.NET reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.66.
In other Newpark Resources news, General Counsel Mark J. Airola unloaded 147,500 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $12.48, for a total transaction of $1,840,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
NR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Newpark Resources from an “outperform” rating to a “neutral” rating in a research note on Monday, August 25th. They now have a $14.60 price target on the stock. Separately, analysts at Cowen and Company reiterated a “market perform” rating on shares of Newpark Resources in a research note on Monday, July 28th. They now have a $14.00 price target on the stock, up previously from $13.50. Finally, analysts at Raymond James raised their price target on shares of Newpark Resources from $14.00 to $16.00 in a research note on Monday, July 28th. They now have an “outperform” rating on the stock.
Shares of Newpark Resources (NYSE:NR) opened at 12.08 on Thursday. Newpark Resources has a 52-week low of $10.43 and a 52-week high of $13.64. The stock’s 50-day moving average is $12.34 and its 200-day moving average is $11.75. The company has a market cap of $1.011 billion and a P/E ratio of 13.33.
Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.06. The company had revenue of $272.50 million for the quarter, compared to the consensus estimate of $244.85 million. During the same quarter last year, the company posted $0.17 earnings per share. Newpark Resources’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Newpark Resources will post $0.73 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.