$33.92 Million in Sales Expected for Smart Sand Inc (SND) This Quarter
Brokerages expect that Smart Sand Inc (NYSE:SND) will announce $33.92 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Smart Sand’s earnings, with the highest sales estimate coming in at $36.40 million and the lowest estimate coming in at $30.70 million. Smart Sand reported sales of $10.93 million during the same quarter last year, which indicates a positive year over year growth rate of 210.3%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, November 9th.
According to Zacks, analysts expect that Smart Sand will report full year sales of $33.92 million for the current financial year, with estimates ranging from $117.80 million to $133.60 million. For the next fiscal year, analysts forecast that the firm will post sales of $212.43 million per share, with estimates ranging from $194.98 million to $240.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Smart Sand.
Smart Sand (NYSE:SND) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $29.79 million for the quarter, compared to the consensus estimate of $29.88 million. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. Smart Sand’s quarterly revenue was up 250.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS.
SND has been the subject of several research analyst reports. Zacks Investment Research downgraded Smart Sand from a “buy” rating to a “sell” rating in a report on Thursday, July 13th. Credit Suisse Group downgraded Smart Sand from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $8.50 in a report on Thursday, July 20th. Piper Jaffray Companies reiterated a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Jefferies Group LLC set a $7.00 price target on Smart Sand and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, BidaskClub upgraded Smart Sand from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Smart Sand currently has a consensus rating of “Buy” and an average target price of $13.07.
In related news, VP Robert Kiszka acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the purchase, the vice president now owns 110,629 shares in the company, valued at approximately $611,778.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Edwin Young acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $5.18 per share, with a total value of $518,000.00. Following the completion of the purchase, the chief executive officer now owns 140,600 shares in the company, valued at approximately $728,308. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 132,000 shares of company stock valued at $685,960.
Large investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. lifted its holdings in Smart Sand by 46.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock worth $9,872,000 after purchasing an additional 353,021 shares in the last quarter. American Century Companies Inc. purchased a new position in Smart Sand in the 2nd quarter worth approximately $1,249,000. Vanguard Group Inc. lifted its holdings in Smart Sand by 113.5% in the 1st quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock worth $12,292,000 after purchasing an additional 402,123 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Smart Sand by 86.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock worth $22,833,000 after purchasing an additional 650,587 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Smart Sand by 176.7% in the 1st quarter. Morgan Stanley now owns 105,869 shares of the company’s stock worth $1,720,000 after purchasing an additional 67,604 shares in the last quarter.
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Smart Sand Company Profile
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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