$69.73 Million in Sales Expected for Cypress Energy Partners, L.P. (NYSE:CELP) This Quarter
Equities analysts forecast that Cypress Energy Partners, L.P. (NYSE:CELP) will report sales of $69.73 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cypress Energy Partners, L.P.’s earnings, with the lowest sales estimate coming in at $67.90 million and the highest estimate coming in at $73.40 million. Cypress Energy Partners, L.P. posted sales of $72.31 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.6%. The firm is scheduled to issue its next earnings results on Thursday, August 10th.
According to Zacks, analysts expect that Cypress Energy Partners, L.P. will report full-year sales of $69.73 million for the current fiscal year, with estimates ranging from $274.10 million to $297.00 million. For the next financial year, analysts forecast that the company will post sales of $311.33 million per share, with estimates ranging from $303.60 million to $323.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Cypress Energy Partners, L.P..
Several research analysts have issued reports on CELP shares. Zacks Investment Research upgraded Cypress Energy Partners, L.P. from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Wednesday, July 12th. TheStreet lowered Cypress Energy Partners, L.P. from a “c-” rating to a “d+” rating in a report on Friday, May 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $8.00 price target on shares of Cypress Energy Partners, L.P. in a report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $8.00.
ILLEGAL ACTIVITY WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/07/22/69-73-million-in-sales-expected-for-cypress-energy-partners-l-p-nysecelp-this-quarter.html.
Shares of Cypress Energy Partners, L.P. (CELP) opened at 7.30 on Friday. Cypress Energy Partners, L.P. has a 52-week low of $6.63 and a 52-week high of $14.27. The stock’s 50 day moving average price is $7.25 and its 200-day moving average price is $9.45. The firm’s market cap is $86.71 million.
A hedge fund recently raised its stake in Cypress Energy Partners, L.P. stock. Renaissance Technologies LLC increased its stake in Cypress Energy Partners, L.P. (NYSE:CELP) by 203.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,759 shares of the oil and gas company’s stock after buying an additional 34,059 shares during the period. Renaissance Technologies LLC owned approximately 0.43% of Cypress Energy Partners, L.P. worth $536,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.69% of the company’s stock.
About Cypress Energy Partners, L.P.
Cypress Energy Partners, L.P. is a limited partnership company, which serves energy companies throughout North America. The Company provides independent pipeline inspection and integrity services to producers and pipeline companies and water and environmental services with salt water disposal (SWD) facilities to the United States onshore oil and natural gas producers and trucking companies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cypress Energy Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Energy Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.