Brokerages Expect Newpark Resources, Inc. (NR) Will Post Quarterly Sales of $199.48 Million
Wall Street brokerages predict that Newpark Resources, Inc. (NYSE:NR) will report $199.48 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Newpark Resources’ earnings, with the highest sales estimate coming in at $199.90 million and the lowest estimate coming in at $199.20 million. Newpark Resources reported sales of $137.08 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 45.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that Newpark Resources will report full year sales of $199.48 million for the current financial year, with estimates ranging from $742.70 million to $743.30 million. For the next year, analysts anticipate that the business will post sales of $921.50 million per share, with estimates ranging from $885.20 million to $984.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newpark Resources.
Newpark Resources (NYSE:NR) last announced its earnings results on Monday, October 30th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The company had revenue of $201.70 million during the quarter, compared to analyst estimates of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. Newpark Resources’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) earnings per share.
In other news, Director David C. Anderson sold 17,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the completion of the transaction, the director now directly owns 170,841 shares in the company, valued at approximately $1,522,193.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director G Stephen Finley sold 11,300 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $8.79, for a total transaction of $99,327.00. Following the transaction, the director now owns 192,658 shares of the company’s stock, valued at $1,693,463.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,300 shares of company stock valued at $268,457. Company insiders own 4.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in shares of Newpark Resources during the 2nd quarter worth about $141,000. Ameriprise Financial Inc. boosted its stake in shares of Newpark Resources by 4.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 577,151 shares of the oil and gas company’s stock worth $4,245,000 after buying an additional 26,342 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Newpark Resources by 27.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock worth $24,481,000 after buying an additional 715,250 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Newpark Resources by 5.6% during the 2nd quarter. Royce & Associates LP now owns 3,163,261 shares of the oil and gas company’s stock worth $23,250,000 after buying an additional 166,700 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of Newpark Resources during the 2nd quarter worth about $1,041,000.
Shares of Newpark Resources (NYSE NR) traded up $0.10 during midday trading on Thursday, reaching $8.85. 441,511 shares of the company were exchanged, compared to its average volume of 690,503. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 1.96. Newpark Resources has a 12-month low of $6.25 and a 12-month high of $10.20.
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Newpark Resources Company Profile
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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