Q3 2018 EPS Estimates for Newpark Resources, Inc. Lifted by Capital One Financial Corporation (NR)
Newpark Resources, Inc. (NYSE:NR) – Capital One Financial Corporation increased their Q3 2018 earnings estimates for shares of Newpark Resources in a report released on Tuesday. Capital One Financial Corporation analyst L. Lemoine now anticipates that the oil and gas company will post earnings of $0.13 per share for the quarter, up from their previous estimate of $0.12. Capital One Financial Corporation also issued estimates for Newpark Resources’ FY2018 earnings at $0.46 EPS and FY2019 earnings at $0.79 EPS.
Other equities research analysts have also recently issued research reports about the stock. SunTrust Banks, Inc. upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, October 24th. Cowen and Company set a $9.00 price objective on shares of Newpark Resources and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, BidaskClub lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Newpark Resources currently has a consensus rating of “Buy” and a consensus price target of $9.80.
WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/11/02/q3-2018-eps-estimates-for-newpark-resources-inc-lifted-by-capital-one-financial-corporation-nr.html. Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Monday, October 30th. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. The business had revenue of $201.70 million for the quarter, compared to the consensus estimate of $192.57 million. During the same period in the prior year, the company earned ($0.16) EPS. Newpark Resources’s quarterly revenue was up 92.8% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd bought a new stake in Newpark Resources during the second quarter worth about $100,000. Driehaus Capital Management LLC bought a new position in shares of Newpark Resources during the 1st quarter worth approximately $114,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Newpark Resources during the 3rd quarter worth approximately $114,000. State of Alaska Department of Revenue boosted its holdings in shares of Newpark Resources by 86.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 17,414 shares of the oil and gas company’s stock worth $127,000 after buying an additional 8,064 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Newpark Resources by 36.0% during the 2nd quarter. GW&K Investment Management LLC now owns 18,005 shares of the oil and gas company’s stock worth $132,000 after buying an additional 4,765 shares in 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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