Zacks: Brokerages Anticipate Key Energy Services, Inc. (KEG) to Announce -$1.33 EPS

Equities analysts expect Key Energy Services, Inc. (NYSE:KEG) to report ($1.33) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Key Energy Services’ earnings. The highest EPS estimate is ($1.29) and the lowest is ($1.37). The firm is expected to issue its next earnings results on Wednesday, February 14th.

On average, analysts expect that Key Energy Services will report full-year earnings of ($6.17) per share for the current year. For the next fiscal year, analysts anticipate that the company will report earnings of ($2.71) per share, with EPS estimates ranging from ($3.44) to ($1.98). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Key Energy Services.

Key Energy Services (NYSE:KEG) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.31) by ($0.25). The firm had revenue of $110.65 million during the quarter, compared to analyst estimates of $111.85 million.

KEG has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Key Energy Services from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Seaport Global Securities raised Key Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Key Energy Services currently has a consensus rating of “Hold” and an average target price of $17.67.

Shares of Key Energy Services (NYSE KEG) opened at $12.85 on Friday. Key Energy Services has a 1 year low of $8.20 and a 1 year high of $34.00.

In other Key Energy Services news, COO David J. Brunnert sold 2,868 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $15.00, for a total transaction of $43,020.00. Following the completion of the transaction, the chief operating officer now directly owns 70,042 shares of the company’s stock, valued at approximately $1,050,630. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine Hargis sold 6,092 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $15.00, for a total value of $91,380.00. Following the transaction, the senior vice president now directly owns 37,381 shares of the company’s stock, valued at $560,715. The disclosure for this sale can be found here. Insiders sold a total of 13,888 shares of company stock valued at $199,245 over the last three months. Corporate insiders own 3.96% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Key Energy Services during the 2nd quarter valued at $654,000. Boston Partners bought a new position in Key Energy Services during the 3rd quarter valued at $2,242,000. Schwab Charles Investment Management Inc. bought a new position in Key Energy Services during the 2nd quarter valued at $339,000. Northern Trust Corp bought a new position in Key Energy Services during the 2nd quarter valued at $1,723,000. Finally, TIAA CREF Investment Management LLC bought a new position in Key Energy Services during the 2nd quarter valued at $526,000. 49.21% of the stock is owned by hedge funds and other institutional investors.

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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.

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Earnings History and Estimates for Key Energy Services (NYSE:KEG)

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