Zacks: Brokerages Expect C&J Energy Services Inc (CJ) Will Post Quarterly Sales of $477.37 Million

Wall Street analysts expect C&J Energy Services Inc (NYSE:CJ) to post $477.37 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for C&J Energy Services’ earnings. The highest sales estimate is $485.00 million and the lowest is $467.60 million. The business is expected to report its next quarterly earnings results before the market opens on Thursday, February 8th.

According to Zacks, analysts expect that C&J Energy Services will report full year sales of $477.37 million for the current financial year, with estimates ranging from $1.61 billion to $1.64 billion. For the next year, analysts anticipate that the company will post sales of $2.40 billion per share, with estimates ranging from $2.24 billion to $2.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for C&J Energy Services.

C&J Energy Services (NYSE:CJ) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.10. The business had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $445.87 million. C&J Energy Services’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company earned ($0.61) earnings per share.

A number of equities research analysts have recently issued reports on CJ shares. Zacks Investment Research raised shares of C&J Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Scotiabank reissued a “hold” rating on shares of C&J Energy Services in a report on Tuesday, October 10th. Morgan Stanley raised shares of C&J Energy Services from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a report on Tuesday, November 14th. Citigroup increased their price target on shares of C&J Energy Services from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $39.00 price target on shares of C&J Energy Services in a report on Tuesday. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.62.

In related news, insider Tim Wallace sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.56, for a total value of $59,120.00. Following the transaction, the insider now directly owns 12,248 shares in the company, valued at $362,050.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Alternative Asset Manage Solus sold 632,530 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $29.59, for a total transaction of $18,716,562.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,087,330 shares of company stock worth $32,189,684.

A number of hedge funds and other institutional investors have recently modified their holdings of CJ. Schwab Charles Investment Management Inc. bought a new position in C&J Energy Services during the second quarter valued at approximately $8,701,000. SG Americas Securities LLC bought a new position in C&J Energy Services during the second quarter valued at approximately $152,000. Bank of New York Mellon Corp bought a new position in C&J Energy Services during the second quarter valued at approximately $6,766,000. Legal & General Group Plc bought a new position in C&J Energy Services during the second quarter valued at approximately $358,000. Finally, BNP Paribas Arbitrage SA bought a new position in C&J Energy Services during the second quarter valued at approximately $199,000. Institutional investors and hedge funds own 96.43% of the company’s stock.

C&J Energy Services (NYSE:CJ) traded up $0.54 during midday trading on Friday, reaching $34.88. 598,860 shares of the company’s stock traded hands, compared to its average volume of 521,876. C&J Energy Services has a 1-year low of $24.30 and a 1-year high of $46.30.

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C&J Energy Services Company Profile

C&J Energy Services, Inc is a completion and production services company, which provides well construction, well completions and well services to the oil and gas industry. The Company operates through three segments: Completion Services, Well Support Services and Other Services. The Company also manufactures, repairs and refurbishes equipment used in the oilfield services industry.

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Earnings History and Estimates for C&J Energy Services (NYSE:CJ)

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