Zacks: Brokerages Expect Basic Energy Services, Inc. (BAS) Will Announce Quarterly Sales of $239.39 Million

Equities analysts expect Basic Energy Services, Inc. (NYSE:BAS) to announce sales of $239.39 million for the current quarter, according to Zacks. Three analysts have made estimates for Basic Energy Services’ earnings, with the lowest sales estimate coming in at $232.48 million and the highest estimate coming in at $244.00 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 53.9%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, March 1st.

On average, analysts expect that Basic Energy Services will report full year sales of $239.39 million for the current financial year, with estimates ranging from $861.25 million to $871.00 million. For the next financial year, analysts anticipate that the firm will report sales of $1.08 billion per share, with estimates ranging from $1.06 billion to $1.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Basic Energy Services.

Several equities analysts have weighed in on the stock. ValuEngine lowered shares of Basic Energy Services from a “sell” rating to a “strong sell” rating in a report on Thursday. Seaport Global Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Basic Energy Services in a report on Thursday, January 18th. Stephens assumed coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 target price on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $24.50 target price on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $28.44.

In other news, insider Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $23.18, for a total value of $34,770.00. Following the sale, the insider now directly owns 41,273 shares of the company’s stock, valued at approximately $956,708.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Timothy Dame sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $23.58, for a total transaction of $58,950.00. Following the completion of the sale, the vice president now directly owns 3,859 shares in the company, valued at $90,995.22. The disclosure for this sale can be found here. Insiders sold a total of 1,012,085 shares of company stock worth $24,346,321 over the last three months. Insiders own 11.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in shares of Basic Energy Services in the 2nd quarter valued at approximately $25,018,000. Wells Fargo & Company MN increased its stake in Basic Energy Services by 184.8% during the 2nd quarter. Wells Fargo & Company MN now owns 20,372 shares of the oil and gas company’s stock worth $507,000 after buying an additional 13,220 shares during the period. Schwab Charles Investment Management Inc. purchased a new stake in Basic Energy Services during the 2nd quarter worth approximately $1,090,000. Peregrine Capital Management LLC increased its stake in Basic Energy Services by 2.1% during 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 during the period. Finally, Swiss National Bank purchased a new stake in Basic Energy Services during the 2nd quarter worth approximately $904,000.

Basic Energy Services (NYSE:BAS) opened at $17.44 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. Basic Energy Services has a fifty-two week low of $14.03 and a fifty-two week 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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