Q3 2017 Earnings Forecast for Natural Gas Services Group, Inc. Issued By Seaport Global Securities (NGS)
Natural Gas Services Group, Inc. (NYSE:NGS) – Equities researchers at Seaport Global Securities dropped their Q3 2017 earnings estimates for shares of Natural Gas Services Group in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Brown now expects that the oil and gas company will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.11. Seaport Global Securities also issued estimates for Natural Gas Services Group’s Q4 2017 earnings at $0.12 EPS, FY2017 earnings at $0.31 EPS, Q1 2018 earnings at $0.15 EPS, FY2018 earnings at $0.87 EPS, Q1 2019 earnings at $0.30 EPS and FY2019 earnings at $1.28 EPS.
Natural Gas Services Group (NYSE:NGS) last posted its quarterly earnings data on Thursday, May 4th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.04. The business had revenue of $18.92 million during the quarter, compared to analyst estimates of $15.80 million. Natural Gas Services Group had a return on equity of 3.78% and a net margin of 10.64%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/05/25/q3-2017-earnings-forecast-for-natural-gas-services-group-inc-issued-by-seaport-global-securities-ngs.html.
Separately, Zacks Investment Research downgraded shares of Natural Gas Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.00.
Shares of Natural Gas Services Group (NYSE:NGS) opened at 26.20 on Thursday. Natural Gas Services Group has a 52-week low of $19.85 and a 52-week high of $34.50. The stock has a 50 day moving average price of $27.25 and a 200-day moving average price of $28.40. The firm has a market cap of $338.95 million, a PE ratio of 81.88 and a beta of 1.08.
Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its stake in Natural Gas Services Group by 9.9% in the fourth quarter. Franklin Resources Inc. now owns 681,700 shares of the oil and gas company’s stock worth $21,917,000 after buying an additional 61,400 shares during the period. Bank of New York Mellon Corp increased its stake in Natural Gas Services Group by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 567,437 shares of the oil and gas company’s stock worth $14,781,000 after buying an additional 14,359 shares during the period. Vanguard Group Inc. increased its stake in Natural Gas Services Group by 1.8% in the first quarter. Vanguard Group Inc. now owns 555,301 shares of the oil and gas company’s stock worth $14,466,000 after buying an additional 9,793 shares during the period. Punch & Associates Investment Management Inc. increased its stake in Natural Gas Services Group by 9.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 368,685 shares of the oil and gas company’s stock worth $9,604,000 after buying an additional 32,300 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Natural Gas Services Group by 18.9% in the first quarter. Renaissance Technologies LLC now owns 314,400 shares of the oil and gas company’s stock worth $8,190,000 after buying an additional 49,900 shares during the period. Institutional investors own 88.67% of the company’s stock.
In other Natural Gas Services Group news, VP James R. Hazlett sold 2,550 shares of the firm’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $28.52, for a total transaction of $72,726.00. Following the sale, the vice president now directly owns 63,340 shares in the company, valued at approximately $1,806,456.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.88% of the company’s stock.
About Natural Gas Services Group
Natural Gas Services Group, Inc is a provider of small to medium horsepower compression equipment to the natural gas industry. The Company focuses primarily on the non-conventional natural gas and oil production business in the United States, such as coal bed methane, gas shale, tight gas and oil shales.
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