Zacks: Analysts Expect Newpark Resources Inc (NR) Will Post Quarterly Sales of $148.41 Million
Equities research analysts expect that Newpark Resources Inc (NYSE:NR) will post $148.41 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Newpark Resources’ earnings, with the highest sales estimate coming in at $154.33 million and the lowest estimate coming in at $138.90 million. Newpark Resources posted sales of $115.32 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.7%. The company is expected to announce its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Newpark Resources will report full year sales of $148.41 million for the current financial year, with estimates ranging from $577.70 million to $679.66 million. For the next year, analysts expect that the business will report sales of $772.37 million per share, with estimates ranging from $653.10 million to $871.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Newpark Resources.
Newpark Resources (NYSE:NR) last released its quarterly earnings data on Thursday, April 27th. The oil and gas company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. Newpark Resources had a negative return on equity of 6.78% and a negative net margin of 8.63%. The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $150.48 million. During the same quarter last year, the business posted ($0.16) EPS. The business’s revenue was up 38.6% on a year-over-year basis.
Separately, Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research report on Thursday, May 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Newpark Resources presently has an average rating of “Buy” and an average price target of $22.82.
In other Newpark Resources news, insider Paul L. Howes sold 141,140 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $7.95, for a total transaction of $1,122,063.00. Following the completion of the sale, the insider now owns 502,625 shares in the company, valued at $3,995,868.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bruce Campbell Smith sold 20,282 shares of the company’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $8.09, for a total value of $164,081.38. Following the sale, the executive vice president now owns 243,716 shares of the company’s stock, valued at approximately $1,971,662.44. The disclosure for this sale can be found here. Insiders sold 293,048 shares of company stock valued at $2,341,186 in the last quarter. 4.70% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Miles Capital Inc. raised its stake in Newpark Resources by 0.3% in the first quarter. Miles Capital Inc. now owns 26,540 shares of the oil and gas company’s stock worth $215,000 after buying an additional 71 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Newpark Resources by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 63,100 shares of the oil and gas company’s stock worth $473,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Newpark Resources by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,500 shares of the oil and gas company’s stock worth $279,000 after buying an additional 500 shares in the last quarter. Arizona State Retirement System raised its stake in Newpark Resources by 1.4% in the first quarter. Arizona State Retirement System now owns 44,171 shares of the oil and gas company’s stock worth $358,000 after buying an additional 600 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Newpark Resources by 1.7% in the first quarter. Van ECK Associates Corp now owns 50,009 shares of the oil and gas company’s stock worth $405,000 after buying an additional 824 shares in the last quarter. Institutional investors own 95.89% of the company’s stock.
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Shares of Newpark Resources (NYSE NR) opened at 7.80 on Friday. The stock’s market cap is $693.01 million. The firm has a 50-day moving average price of $7.68 and a 200 day moving average price of $7.71. Newpark Resources has a 12-month low of $5.08 and a 12-month high of $8.75.
Newpark Resources Company Profile
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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