Key Energy Services, Inc. (KEG) Expected to Announce Quarterly Sales of $112.90 Million
Wall Street analysts forecast that Key Energy Services, Inc. (NYSE:KEG) will post $112.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Key Energy Services’ earnings, with the lowest sales estimate coming in at $112.00 million and the highest estimate coming in at $113.80 million. The business is expected to report its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Key Energy Services will report full-year sales of $112.90 million for the current financial year, with estimates ranging from $433.00 million to $433.60 million. For the next financial year, analysts expect that the business will post sales of $520.00 million per share, with estimates ranging from $503.00 million to $537.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Key Energy Services.
Several brokerages have commented on KEG. Zacks Investment Research raised Key Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $17.00 price target on shares of Key Energy Services in a research report on Tuesday, September 19th. Johnson Rice began coverage on Key Energy Services in a research report on Thursday, September 21st. They issued an “accumulate” rating on the stock. Finally, Seaport Global Securities raised Key Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Key Energy Services presently has an average rating of “Hold” and an average price target of $18.17.
A number of institutional investors and hedge funds have recently modified their holdings of the business. GeoSphere Capital Management bought a new position in Key Energy Services in the 3rd quarter valued at $790,000. Fine Capital Partners L.P. raised its position in Key Energy Services by 59.5% in the 3rd quarter. Fine Capital Partners L.P. now owns 1,004,038 shares of the oil and gas company’s stock valued at $13,223,000 after purchasing an additional 374,492 shares during the last quarter. Wells Fargo & Company MN raised its position in Key Energy Services by 123,110.9% in the 3rd quarter. Wells Fargo & Company MN now owns 67,766 shares of the oil and gas company’s stock valued at $892,000 after purchasing an additional 67,711 shares during the last quarter. Akanthos Capital Management LLC bought a new position in Key Energy Services in the 3rd quarter valued at $1,317,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Key Energy Services in the 3rd quarter valued at $464,000. Hedge funds and other institutional investors own 49.21% of the company’s stock.
Shares of Key Energy Services (KEG) traded up $0.59 during midday trading on Tuesday, reaching $15.38. The company’s stock had a trading volume of 98,400 shares, compared to its average volume of 196,540. Key Energy Services has a 52 week low of $8.20 and a 52 week high of $38.00.
About Key Energy Services
Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Key Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Key Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.