FY2017 EPS Estimates for Newpark Resources, Inc. Raised by SunTrust Banks (NR)
Newpark Resources, Inc. (NYSE:NR) – Equities research analysts at SunTrust Banks raised their FY2017 earnings per share estimates for Newpark Resources in a research report issued on Thursday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will earn $0.06 per share for the year, up from their prior forecast of $0.05. SunTrust Banks also issued estimates for Newpark Resources’ Q4 2017 earnings at $0.04 EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at $0.03 EPS and FY2018 earnings at $0.15 EPS.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $183 million for the quarter, compared to analyst estimates of $159.51 million. Newpark Resources had a negative return on equity of 2.92% and a negative net margin of 2.20%. Newpark Resources’s revenue for the quarter was up 58.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. WARNING: This piece was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/07/fy2017-eps-estimates-for-newpark-resources-inc-raised-by-suntrust-banks-nr.html.
Several other equities analysts have also weighed in on NR. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Thursday, May 4th. Loop Capital restated a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd. Finally, BidaskClub lowered shares of Newpark Resources from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.63.
In other Newpark Resources news, Director David C. Anderson sold 15,124 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $7.35, for a total value of $111,161.40. Following the transaction, the director now owns 187,841 shares in the company, valued at approximately $1,380,631.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew Lanigan sold 40,771 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $8.46, for a total transaction of $344,922.66. Following the completion of the transaction, the vice president now owns 50,000 shares in the company, valued at approximately $423,000. The disclosure for this sale can be found here. Insiders sold a total of 241,985 shares of company stock worth $1,939,122 in the last quarter. 4.70% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of 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 worth $16,083,000 after buying an additional 247,617 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 worth $2,080,000 after buying an additional 28,100 shares in the last quarter. Metropolitan Life Insurance Co. NY raised 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 worth $473,000 after buying an additional 180 shares in the last quarter. Norges Bank purchased a new position in shares of Newpark Resources during the fourth quarter worth approximately $10,393,000. Finally, Foundry Partners LLC raised its position in shares of Newpark Resources by 0.7% in the first quarter. Foundry Partners LLC now owns 531,190 shares of the oil and gas company’s stock worth $4,303,000 after buying an additional 3,525 shares in the last quarter.
About Newpark Resources
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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