Analysts expect Basic Energy Services, Inc. (NYSE:BAS) to announce $243.56 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Basic Energy Services’ earnings. The lowest sales estimate is $241.70 million and the highest is $244.98 million. Basic Energy Services posted sales of $155.53 million in the same quarter last year, which suggests a positive year over year growth rate of 56.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 22nd.
According to Zacks, analysts expect that Basic Energy Services will report full year sales of $243.56 million for the current year, with estimates ranging from $870.00 million to $873.76 million. For the next year, analysts expect that the firm will report sales of $1.07 billion per share, with estimates ranging from $1.05 billion to $1.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Basic Energy Services.
Basic Energy Services (NYSE:BAS) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.19. Basic Energy Services had a negative return on equity of 24.91% and a negative net margin of 29.23%. The business had revenue of $233.46 million during the quarter, compared to analysts’ expectations of $229.44 million.
Shares of Basic Energy Services (NYSE:BAS) opened at $22.33 on Thursday. Basic Energy Services has a 1-year low of $14.03 and a 1-year high of $44.81. The firm has a market capitalization of $623.63 and a price-to-earnings ratio of -3.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42.
In related news, insider Thomas Monroe Patterson sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $19.28, for a total transaction of $28,920.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Silver Point Capital L.P. sold 875,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $22.75, for a total value of $19,906,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,893,292 shares of company stock valued at $44,381,288 over the last 90 days. 0.69% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in BAS. Schwab Charles Investment Management Inc. acquired a new position in shares of Basic Energy Services in the second quarter valued at about $1,090,000. Rhumbline Advisers acquired a new position in shares of Basic Energy Services in the second quarter valued at about $534,000. Bank of New York Mellon Corp increased its holdings in shares of Basic Energy Services by 333.6% in the second quarter. Bank of New York Mellon Corp now owns 120,983 shares of the oil and gas company’s stock valued at $3,012,000 after purchasing an additional 93,082 shares during the period. Legal & General Group Plc acquired a new position in shares of Basic Energy Services in the second quarter valued at about $112,000. Finally, Swiss National Bank acquired a new position in shares of Basic Energy Services in the second quarter valued at about $904,000.
WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/01/25/basic-energy-services-inc-bas-expected-to-announce-quarterly-sales-of-243-56-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Basic Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Basic Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.