-$0.28 EPS Expected for Basic Energy Services, Inc. (BAS) This Quarter
Equities research analysts expect Basic Energy Services, Inc. (NYSE:BAS) to announce earnings of ($0.28) per share for the current quarter, according to Zacks. Three analysts have provided estimates for Basic Energy Services’ earnings. The lowest EPS estimate is ($0.35) and the highest is ($0.19). Basic Energy Services reported earnings of ($1.18) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 76.3%. The business is expected to issue its next quarterly earnings results on Thursday, March 22nd.
On average, analysts expect that Basic Energy Services will report full-year earnings of ($1.95) per share for the current year, with EPS estimates ranging from ($2.03) to ($1.86). For the next year, analysts expect that the company will post earnings of ($0.77) per share, with EPS estimates ranging from ($1.79) to ($0.21). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Basic Energy Services.
A number of equities research analysts have weighed in on BAS shares. Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Monday, October 2nd. BidaskClub upgraded shares of Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies reiterated a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a research note on Friday, September 8th. Deutsche Bank AG started coverage on shares of Basic Energy Services in a research note on Tuesday, October 10th. They set a “hold” rating and a $22.00 target price for the company. Finally, Credit Suisse Group AG reiterated a “neutral” rating and set a $21.00 target price (down from $30.00) on shares of Basic Energy Services in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Basic Energy Services has an average rating of “Hold” and an average price target of $27.25.
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In related news, Director Silver Point Capital L.P. sold 875,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $22.75, for a total value of $19,906,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Monroe Patterson sold 1,500 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $18.83, for a total transaction of $28,245.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,807 shares of company stock valued at $20,167,925. Insiders own 0.69% of the company’s stock.
A number of institutional investors have recently modified their holdings of BAS. Key Group Holdings Cayman LTD. bought a new position in Basic Energy Services in the 2nd quarter worth $40,639,000. Janus Henderson Group PLC bought a new position in shares of Basic Energy Services during the 2nd quarter valued at about $25,018,000. Vanguard Group Inc. bought a new position in shares of Basic Energy Services during the 1st quarter valued at about $20,818,000. State Street Corp bought a new position in shares of Basic Energy Services during the 2nd quarter valued at about $15,122,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Basic Energy Services by 406.3% during the 3rd quarter. Citadel Advisors LLC now owns 604,092 shares of the oil and gas company’s stock valued at $11,659,000 after purchasing an additional 484,779 shares during the last quarter.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.
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