Keane Group Inc (FRAC) Expected to Post Quarterly Sales of $310.72 Million
Wall Street brokerages predict that Keane Group Inc (NASDAQ:FRAC) will post $310.72 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Keane Group’s earnings, with estimates ranging from $309.00 million to $312.43 million. The company is expected to report its next earnings report on Tuesday, August 1st.
On average, analysts expect that Keane Group will report full-year sales of $310.72 million for the current financial year, with estimates ranging from $1.36 billion to $1.57 billion. For the next financial year, analysts anticipate that the business will post sales of $2.17 billion per share, with estimates ranging from $1.81 billion to $2.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Keane Group.
A number of brokerages recently weighed in on FRAC. Citigroup Inc. upgraded Keane Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, March 1st. Scotiabank restated a “hold” rating and set a $24.00 price objective on shares of Keane Group in a research report on Thursday, March 16th. BMO Capital Markets began coverage on Keane Group in a research report on Wednesday, April 12th. They set a “market perform” rating and a $17.00 price objective on the stock. Susquehanna Bancshares Inc initiated coverage on Keane Group in a research report on Monday, June 5th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, Bank of America Corporation upgraded Keane Group from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Friday, March 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Keane Group presently has a consensus rating of “Buy” and a consensus price target of $22.43.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in shares of Keane Group by 42.8% in the first quarter. Public Employees Retirement System of Ohio now owns 137,025 shares of the company’s stock worth $1,959,000 after buying an additional 41,041 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Keane Group during the first quarter worth about $541,000. Point72 Asset Management L.P. acquired a new position in shares of Keane Group during the first quarter worth about $26,731,000. Point72 Europe London LLP acquired a new position in shares of Keane Group during the first quarter worth about $5,539,000. Finally, Credit Suisse AG acquired a new position in shares of Keane Group during the first quarter worth about $505,000.
Keane Group (NASDAQ:FRAC) opened at 15.47 on Thursday. Keane Group has a 52 week low of $12.42 and a 52 week high of $22.93. The firm’s market cap is $1.60 billion. The stock’s 50 day moving average price is $14.76 and its 200 day moving average price is $16.61.
Keane Group Company Profile
Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.
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