MAMMOOTH ENERGY (TUSK) Expected to Announce Quarterly Sales of $135.54 Million
Wall Street analysts forecast that MAMMOOTH ENERGY (NASDAQ:TUSK) will report sales of $135.54 million for the current quarter, Zacks reports. Four analysts have made estimates for MAMMOOTH ENERGY’s earnings, with estimates ranging from $130.92 million to $139.20 million. MAMMOOTH ENERGY posted sales of $62.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 115.9%. The company is scheduled to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that MAMMOOTH ENERGY will report full-year sales of $135.54 million for the current year, with estimates ranging from $529.53 million to $579.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $916.83 million per share, with estimates ranging from $830.00 million to $1.00 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover MAMMOOTH ENERGY.
MAMMOOTH ENERGY (NASDAQ:TUSK) last issued its quarterly earnings results on Wednesday, November 1st. The energy company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). MAMMOOTH ENERGY had a negative net margin of 21.65% and a negative return on equity of 3.04%. The business had revenue of $149.30 million for the quarter, compared to analysts’ expectations of $129.58 million. The company’s revenue for the quarter was up 135.9% compared to the same quarter last year.
A number of research firms have recently weighed in on TUSK. ValuEngine raised MAMMOOTH ENERGY from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised MAMMOOTH ENERGY from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Thursday, October 26th. Imperial Capital raised their price objective on MAMMOOTH ENERGY from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Jefferies Group LLC assumed coverage on MAMMOOTH ENERGY in a research note on Thursday, October 5th. They set a “hold” rating and a $18.00 price objective on the stock. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $18.00 price objective (down previously from $25.00) on shares of MAMMOOTH ENERGY in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.75.
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In other news, Director James D. Palm purchased 6,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $12.75 per share, with a total value of $76,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.03% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TUSK. American International Group Inc. bought a new position in shares of MAMMOOTH ENERGY in the 1st quarter valued at about $103,000. Nationwide Fund Advisors grew its holdings in shares of MAMMOOTH ENERGY by 283.0% in the 2nd quarter. Nationwide Fund Advisors now owns 10,276 shares of the energy company’s stock valued at $191,000 after acquiring an additional 7,593 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of MAMMOOTH ENERGY in the 2nd quarter valued at about $191,000. Prudential Financial Inc. bought a new position in shares of MAMMOOTH ENERGY in the 2nd quarter valued at about $208,000. Finally, Swiss National Bank bought a new position in shares of MAMMOOTH ENERGY in the 2nd quarter valued at about $233,000. Institutional investors own 73.42% of the company’s stock.
About MAMMOOTH ENERGY
Mammoth Energy Services, Inc is an integrated oilfield service company. The Company is engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. The Company’s segments include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services.
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