Analysts Expect Basic Energy Services, Inc. (BAS) Will Post Earnings of -$0.34 Per Share

Wall Street analysts expect that Basic Energy Services, Inc. (NYSE:BAS) will announce ($0.34) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Basic Energy Services’ earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.36). Basic Energy Services reported earnings per share of ($1.18) during the same quarter last year, which would indicate a positive year over year growth rate of 71.2%. The company is scheduled to issue its next quarterly earnings report on Thursday, March 22nd.

On average, analysts expect that Basic Energy Services will report full-year earnings of ($2.01) per share for the current fiscal year, with EPS estimates ranging from ($2.03) to ($1.97). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.80) per share, with EPS estimates ranging from ($1.79) to ($0.21). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Basic Energy Services.

Basic Energy Services (NYSE:BAS) last posted its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.19. The business had revenue of $233.46 million for the quarter, compared to analyst estimates of $229.44 million. Basic Energy Services had a negative net margin of 29.23% and a negative return on equity of 24.91%.

A number of analysts recently weighed in on BAS shares. Zacks Investment Research lowered shares of Basic Energy Services from a “buy” rating to a “sell” rating in a report on Wednesday, October 4th. Deutsche Bank started coverage on shares of Basic Energy Services in a report on Tuesday, October 10th. They set a “hold” rating and a $22.00 target price on the stock. Seaport Global Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Basic Energy Services in a report on Thursday, January 18th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a report on Friday, October 13th. Finally, ValuEngine lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Basic Energy Services has a consensus rating of “Hold” and an average target price of $28.44.

In other Basic Energy Services news, SVP James F. Newman sold 5,000 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $23.57, for a total value of $117,850.00. Following the completion of the transaction, the senior vice president now owns 29,753 shares of the company’s stock, valued at approximately $701,278.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ascribe Capital Llc sold 39,910 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $26.20, for a total transaction of $1,045,642.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,582,292 shares of company stock valued at $36,990,768. Corporate insiders own 0.69% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new position in Basic Energy Services in the 2nd quarter worth approximately $112,000. JPMorgan Chase & Co. grew its stake in Basic Energy Services by 11.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,118 shares of the oil and gas company’s stock worth $1,173,000 after buying an additional 5,021 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Basic Energy Services by 2.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 262,723 shares of the oil and gas company’s stock worth $5,071,000 after buying an additional 5,349 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Basic Energy Services by 107.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock worth $332,000 after buying an additional 6,905 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Basic Energy Services by 39.4% in the 3rd quarter. Wells Fargo & Company MN now owns 28,400 shares of the oil and gas company’s stock worth $549,000 after buying an additional 8,028 shares in the last quarter.

Shares of Basic Energy Services (BAS) opened at $23.73 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.59. The firm has a market cap of $608.80 and a P/E ratio of -3.64. Basic Energy Services has a twelve month low of $14.03 and a twelve month high of $44.81.

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About Basic Energy Services

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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Earnings History and Estimates for Basic Energy Services (NYSE:BAS)

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