-$0.75 Earnings Per Share Expected for Carbo Ceramics, Inc. (CRR) This Quarter
Wall Street analysts expect Carbo Ceramics, Inc. (NYSE:CRR) to post earnings per share of ($0.75) for the current quarter, according to Zacks. Zero analysts have issued estimates for Carbo Ceramics’ earnings, with estimates ranging from ($0.84) to ($0.65). Carbo Ceramics reported earnings per share of ($0.49) during the same quarter last year, which would indicate a negative year over year growth rate of 53.1%. The business is scheduled to issue its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Carbo Ceramics will report full year earnings of ($3.71) per share for the current year, with EPS estimates ranging from ($3.84) to ($3.60). For the next fiscal year, analysts expect that the company will post earnings of ($1.32) per share, with EPS estimates ranging from ($1.99) to ($0.53). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Carbo Ceramics.
Carbo Ceramics (NYSE:CRR) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.07). Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The firm had revenue of $43.57 million for the quarter, compared to analysts’ expectations of $36.50 million. During the same period in the prior year, the firm earned ($0.88) EPS. Carbo Ceramics’s revenue for the quarter was up 111.0% compared to the same quarter last year.
A number of brokerages have recently issued reports on CRR. Zacks Investment Research lowered Carbo Ceramics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded Carbo Ceramics from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. Morgan Stanley restated an “underweight” rating and issued a $5.00 price objective (down previously from $7.50) on shares of Carbo Ceramics in a report on Wednesday, June 21st. Scotiabank set a $12.00 price objective on Carbo Ceramics and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies set a $9.00 price objective on Carbo Ceramics and gave the company a “hold” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.06.
Shares of Carbo Ceramics (NYSE:CRR) traded down 1.06% during trading on Friday, reaching $7.45. 979,205 shares of the company’s stock traded hands. Carbo Ceramics has a one year low of $5.66 and a one year high of $16.70. The stock’s market cap is $202.25 million. The company has a 50 day moving average price of $6.84 and a 200-day moving average price of $8.38.
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A number of hedge funds have recently made changes to their positions in the business. Moors & Cabot Inc. lifted its holdings in Carbo Ceramics by 49.3% in the 2nd quarter. Moors & Cabot Inc. now owns 77,800 shares of the oil and gas company’s stock valued at $526,000 after purchasing an additional 25,700 shares in the last quarter. State Street Corp increased its stake in shares of Carbo Ceramics by 4.3% in the 2nd quarter. State Street Corp now owns 501,406 shares of the oil and gas company’s stock worth $3,438,000 after acquiring an additional 20,824 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Carbo Ceramics by 12.4% in the 2nd quarter. Royal Bank of Canada now owns 28,063 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 3,092 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Carbo Ceramics by 197.3% in the 2nd quarter. Stifel Financial Corp now owns 74,365 shares of the oil and gas company’s stock worth $507,000 after acquiring an additional 49,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Carbo Ceramics by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 362,236 shares of the oil and gas company’s stock worth $2,481,000 after acquiring an additional 1,225 shares during the last quarter. Institutional investors own 72.86% of the company’s stock.
Carbo Ceramics Company Profile
CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.
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