FY2017 EPS Estimates for Carbo Ceramics, Inc. (CRR) Decreased by Analyst
Carbo Ceramics, Inc. (NYSE:CRR) – Investment analysts at Capital One Financial Corporation lowered their FY2017 earnings per share estimates for shares of Carbo Ceramics in a note issued to investors on Monday. Capital One Financial Corporation analyst L. Lemoine now forecasts that the oil and gas company will earn ($3.61) per share for the year, down from their previous forecast of ($3.60). Capital One Financial Corporation also issued estimates for Carbo Ceramics’ FY2018 earnings at ($0.54) EPS.
Carbo Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.07). Carbo Ceramics had a negative return on equity of 12.72% and a negative net margin of 72.46%. The business had revenue of $43.57 million during the quarter, compared to analyst estimates of $36.50 million. During the same period last year, the company earned ($0.88) EPS. The business’s revenue for the quarter was up 111.0% on a year-over-year basis.
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Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Carbo Ceramics from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research note on Wednesday, September 27th. Cowen and Company set a $11.00 price objective on shares of Carbo Ceramics and gave the company a “hold” rating in a research note on Friday, October 6th. Scotiabank set a $12.00 price objective on shares of Carbo Ceramics and gave the company a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $9.00 price objective on shares of Carbo Ceramics and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, ValuEngine raised shares of Carbo Ceramics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Carbo Ceramics has an average rating of “Hold” and an average price target of $10.78.
Carbo Ceramics (CRR) opened at 7.40 on Wednesday. Carbo Ceramics has a 52-week low of $5.66 and a 52-week high of $16.70. The firm’s market cap is $200.89 million. The company has a 50-day moving average of $7.49 and a 200 day moving average of $7.83.
Large investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. bought a new position in Carbo Ceramics in the 2nd quarter valued at approximately $103,000. Texas Permanent School Fund raised its stake in shares of Carbo Ceramics by 0.8% during the second quarter. Texas Permanent School Fund now owns 15,456 shares of the oil and gas company’s stock valued at $106,000 after acquiring an additional 128 shares during the last quarter. Creative Planning raised its stake in shares of Carbo Ceramics by 101.5% during the second quarter. Creative Planning now owns 17,106 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 8,618 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Carbo Ceramics by 13.9% during the first quarter. Public Employees Retirement System of Ohio now owns 9,786 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 1,196 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Carbo Ceramics by 1.8% during the first quarter. Arizona State Retirement System now owns 11,014 shares of the oil and gas company’s stock valued at $144,000 after acquiring an additional 200 shares during the last quarter. 72.19% of the stock is owned by institutional investors and hedge funds.
About Carbo Ceramics
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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