Zacks: Brokerages Expect Newpark Resources, Inc. (NR) Will Announce Quarterly Sales of $191.64 Million
Brokerages predict that Newpark Resources, Inc. (NYSE:NR) will post $191.64 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Newpark Resources’ earnings. The lowest sales estimate is $186.60 million and the highest is $196.10 million. Newpark Resources posted sales of $104.55 million during the same quarter last year, which suggests a positive year over year growth rate of 83.3%. The company is expected to announce its next earnings report on Thursday, October 26th.
On average, analysts expect that Newpark Resources will report full year sales of $191.64 million for the current year, with estimates ranging from $726.00 million to $732.40 million. For the next financial year, analysts forecast that the firm will report sales of $856.36 million per share, with estimates ranging from $793.00 million to $919.49 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Newpark Resources.
Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Newpark Resources had a negative return on equity of 2.92% and a negative net margin of 2.20%. The business had revenue of $183 million during the quarter, compared to the consensus estimate of $159.51 million. During the same quarter last year, the company earned ($0.06) EPS. The firm’s revenue was up 58.7% compared to the same quarter last year.
A number of analysts have commented on the company. Zacks Investment Research upgraded Newpark Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub raised Newpark Resources from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.15.
Newpark Resources (NYSE NR) opened at 8.25 on Wednesday. Newpark Resources has a 52 week low of $5.80 and a 52 week high of $8.75. The company’s market cap is $706.27 million. The firm has a 50-day moving average price of $7.82 and a 200 day moving average price of $7.63.
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In other news, VP Matthew Lanigan sold 40,771 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $8.46, for a total value of $344,922.66. Following the completion of the transaction, the vice president now owns 50,000 shares of the company’s stock, valued at $423,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NR. BlueCrest Capital Management Ltd bought a new position in Newpark Resources during the second quarter valued at approximately $100,000. Driehaus Capital Management LLC bought a new position in Newpark Resources during the first quarter valued at approximately $114,000. State of Alaska Department of Revenue boosted its stake in Newpark Resources by 86.2% during the second quarter. State of Alaska Department of Revenue now owns 17,414 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 8,064 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Newpark Resources by 36.0% during the second quarter. GW&K Investment Management LLC now owns 18,005 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 4,765 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in Newpark Resources by 35.0% during the first quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 4,728 shares during 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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