Keane Group Inc (FRAC) Expected to Announce Quarterly Sales of $486.77 Million
Equities research analysts expect Keane Group Inc (NASDAQ:FRAC) to announce sales of $486.77 million for the current quarter, Zacks reports. Two analysts have provided estimates for Keane Group’s earnings, with the lowest sales estimate coming in at $479.00 million and the highest estimate coming in at $494.53 million. The firm is scheduled to announce its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Keane Group will report full year sales of $486.77 million for the current fiscal year, with estimates ranging from $1.52 billion to $1.60 billion. For the next financial year, analysts anticipate that the business will report sales of $2.15 billion per share, with estimates ranging from $2.11 billion to $2.19 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Keane Group.
Keane Group (NASDAQ:FRAC) last announced its earnings results on Monday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $323.10 million during the quarter, compared to analysts’ expectations of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Keane Group in a research report on Wednesday, June 21st. Citigroup Inc. lowered Keane Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $19.00 to $14.00 in a research report on Wednesday, August 30th. Iberia Capital assumed coverage on Keane Group in a research report on Friday, June 23rd. They issued an “outperform” rating and a $19.00 price objective on the stock. Capital One Financial Corporation reiterated an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. Finally, Susquehanna Bancshares Inc assumed coverage on Keane Group in a research report on Monday, June 5th. They issued a “neutral” rating and a $17.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Keane Group during the second quarter valued at approximately $354,000. Public Employees Retirement System of Ohio boosted its position in shares of Keane Group by 9.2% during the second quarter. Public Employees Retirement System of Ohio now owns 149,658 shares of the company’s stock valued at $2,395,000 after purchasing an additional 12,633 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Keane Group during the second quarter valued at approximately $383,000. State Street Corp boosted its position in shares of Keane Group by 153.4% during the second quarter. State Street Corp now owns 1,111,267 shares of the company’s stock valued at $17,782,000 after purchasing an additional 672,659 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Keane Group by 4,762.9% during the second quarter. Janus Henderson Group PLC now owns 4,250,092 shares of the company’s stock valued at $68,001,000 after purchasing an additional 4,162,694 shares in the last quarter.
Shares of Keane Group (FRAC) opened at 13.34 on Friday. The firm’s market cap is $1.49 billion. Keane Group has a 12 month low of $12.42 and a 12 month high of $22.93. The company’s 50 day moving average is $14.15 and its 200-day moving average is $15.05.
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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