Brokerages Anticipate CSI Compressco LP (CCLP) Will Announce Quarterly Sales of $76.15 Million

Equities analysts expect CSI Compressco LP (NASDAQ:CCLP) to report sales of $76.15 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for CSI Compressco’s earnings, with the highest sales estimate coming in at $78.45 million and the lowest estimate coming in at $73.52 million. CSI Compressco reported sales of $82.87 million in the same quarter last year, which would indicate a negative year over year growth rate of 8.1%. The company is expected to report its next earnings results before the market opens on Tuesday, February 27th.

On average, analysts expect that CSI Compressco will report full year sales of $76.15 million for the current fiscal year, with estimates ranging from $285.98 million to $290.91 million. For the next fiscal year, analysts forecast that the company will post sales of $336.64 million per share, with estimates ranging from $318.64 million to $355.66 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover CSI Compressco.

CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.26) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.26). CSI Compressco had a negative return on equity of 35.88% and a negative net margin of 14.20%. The business had revenue of $71.60 million during the quarter, compared to analysts’ expectations of $76.12 million.

CCLP has been the subject of several research reports. Zacks Investment Research cut CSI Compressco from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Stifel Nicolaus boosted their price target on CSI Compressco from $5.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. ValuEngine raised CSI Compressco from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target (up from $5.00) on shares of CSI Compressco in a research report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. CSI Compressco currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Shares of CSI Compressco (CCLP) opened at $6.15 on Friday. CSI Compressco has a 1-year low of $4.12 and a 1-year high of $12.45. The company has a current ratio of 1.75, a quick ratio of 0.98 and a debt-to-equity ratio of 4.92.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Thursday, February 1st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 12.20%. The ex-dividend date is Wednesday, January 31st. CSI Compressco’s payout ratio is -60.00%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCLP. FMR LLC raised its position in shares of CSI Compressco by 91.7% in the 2nd quarter. FMR LLC now owns 1,353,231 shares of the oil and gas company’s stock worth $6,563,000 after acquiring an additional 647,176 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of CSI Compressco in the 2nd quarter worth $146,000. WealthTrust Axiom LLC raised its position in shares of CSI Compressco by 10.1% in the 4th quarter. WealthTrust Axiom LLC now owns 256,668 shares of the oil and gas company’s stock worth $1,403,000 after acquiring an additional 23,521 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of CSI Compressco by 9.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,770 shares of the oil and gas company’s stock worth $640,000 after acquiring an additional 10,232 shares in the last quarter. 27.34% of the stock is owned by hedge funds and other institutional investors.

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About CSI Compressco

CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.

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