SunTrust Banks Comments on Newpark Resources, Inc.’s Q1 2018 Earnings (NYSE:NR)
Newpark Resources, Inc. (NYSE:NR) – Analysts at SunTrust Banks issued their Q1 2018 earnings per share estimates for shares of Newpark Resources in a research report issued on Thursday. SunTrust Banks analyst K. Sill expects that the oil and gas company will earn $0.05 per share for the quarter. SunTrust Banks also issued estimates for Newpark Resources’ Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.04 EPS and Q4 2018 earnings at $0.07 EPS.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday. Loop Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.63.
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Newpark Resources (NYSE:NR) traded down 4.870% during midday trading on Friday, hitting $7.325. The company had a trading volume of 318,855 shares. The firm has a 50-day moving average price of $7.30 and a 200-day moving average price of $7.63. The company’s market cap is $650.80 million. Newpark Resources has a 12 month low of $5.48 and a 12 month high of $8.75.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results 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. The business had revenue of $158.70 million during the quarter, compared to the consensus estimate of $150.48 million. Newpark Resources had a negative return on equity of 4.34% and a negative net margin of 5.51%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) earnings per share.
In other news, insider Paul L. Howes sold 141,140 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.95, for a total value of $1,122,063.00. Following the completion of the sale, the insider now directly owns 502,625 shares of the company’s stock, valued at approximately $3,995,868.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bruce Campbell Smith sold 10,578 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $8.00, for a total value of $84,624.00. Following the completion of the sale, the executive vice president now directly owns 226,034 shares of the company’s stock, valued at $1,808,272. The disclosure for this sale can be found here. Insiders sold a total of 201,214 shares of company stock valued at $1,594,199 over the last three months. Insiders own 4.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Newpark Resources during the fourth quarter valued at approximately $2,185,000. Comerica Bank boosted its stake in Newpark Resources by 5.3% in the fourth quarter. Comerica Bank now owns 90,358 shares of the oil and gas company’s stock valued at $714,000 after buying an additional 4,581 shares in the last quarter. State Street Corp boosted its stake in Newpark Resources by 13.1% in the fourth quarter. State Street Corp now owns 2,143,792 shares of the oil and gas company’s stock valued at $16,083,000 after buying an additional 247,617 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Newpark Resources by 11.3% in the fourth quarter. Renaissance Technologies LLC now owns 277,300 shares of the oil and gas company’s stock valued at $2,080,000 after buying an additional 28,100 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of 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 valued at $473,000 after buying an additional 180 shares in the last quarter.
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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