-$0.26 EPS Expected for CSI Compressco LP (CCLP) This Quarter
Equities analysts expect that CSI Compressco LP (NASDAQ:CCLP) will announce earnings of ($0.26) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for CSI Compressco’s earnings. The lowest EPS estimate is ($0.30) and the highest is ($0.20). CSI Compressco reported earnings per share of ($0.47) in the same quarter last year, which indicates a positive year-over-year growth rate of 44.7%. The business is scheduled to announce its next earnings report on Friday, November 3rd.
According to Zacks, analysts expect that CSI Compressco will report full year earnings of ($1.10) per share for the current year, with EPS estimates ranging from ($1.17) to ($1.02). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.51) per share, with EPS estimates ranging from ($0.58) to ($0.45). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last released its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.04. The company had revenue of $75.32 million during the quarter, compared to the consensus estimate of $66.64 million. CSI Compressco had a negative return on equity of 36.43% and a negative net margin of 17.01%.
CCLP has been the topic of a number of research analyst reports. Bank of America Corporation cut their price objective on shares of CSI Compressco from $6.50 to $5.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 23rd. Royal Bank Of Canada reissued a “hold” rating and set a $8.00 price objective on shares of CSI Compressco in a research report on Monday, August 21st. Stifel Nicolaus set a $5.00 price objective on shares of CSI Compressco and gave the stock a “hold” rating in a research report on Friday, August 25th. Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $6.00.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in shares of CSI Compressco by 99.3% in the 1st quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock worth $754,000 after acquiring an additional 38,319 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of CSI Compressco by 1.8% in the 1st quarter. OppenheimerFunds Inc. now owns 3,050,772 shares of the oil and gas company’s stock worth $29,898,000 after acquiring an additional 54,809 shares during the last quarter. Parkwood LLC raised its holdings in shares of CSI Compressco by 69.8% in the 2nd quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock worth $541,000 after acquiring an additional 45,900 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of CSI Compressco in the 1st quarter worth about $136,000. Finally, WealthTrust Axiom LLC raised its holdings in shares of CSI Compressco by 13.8% in the 2nd quarter. WealthTrust Axiom LLC now owns 235,575 shares of the oil and gas company’s stock worth $1,142,000 after acquiring an additional 28,516 shares during the last quarter. Institutional investors own 28.67% of the company’s stock.
CSI Compressco (NASDAQ CCLP) opened at 5.21 on Friday. CSI Compressco has a 52-week low of $4.12 and a 52-week high of $13.54.
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About CSI Compressco
CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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