Brokerages forecast that Key Energy Services, Inc. (NYSE:KEG) will post $112.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Key Energy Services’ earnings, with the lowest sales estimate coming in at $112.00 million and the highest estimate coming in at $113.80 million. The business is scheduled to issue its next earnings report on Wednesday, February 14th.
On average, analysts expect that Key Energy Services will report full-year sales of $112.90 million for the current year, with estimates ranging from $433.00 million to $433.60 million. For the next year, analysts forecast that the business will report sales of $543.40 million per share, with estimates ranging from $537.00 million to $549.80 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Key Energy Services.
KEG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Key Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Seaport Global Securities raised shares of 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. The company currently has an average rating of “Hold” and an average target price of $17.67.
In other Key Energy Services news, Director Scott D. Vogel purchased 25,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $9.00 per share, with a total value of $225,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine Hargis sold 6,092 shares of Key Energy Services stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $15.00, for a total transaction of $91,380.00. Following the completion of 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 ninety days.
Several hedge funds and other institutional investors have recently bought and sold shares of KEG. Schwab Charles Investment Management Inc. acquired a new position in shares of Key Energy Services in the 2nd quarter valued at about $339,000. Bank of New York Mellon Corp acquired a new position in shares of Key Energy Services in the 2nd quarter valued at about $654,000. Swiss National Bank bought a new stake in Key Energy Services in the 2nd quarter valued at about $258,000. Teachers Advisors LLC bought a new stake in Key Energy Services in the 2nd quarter valued at about $349,000. Finally, TIAA CREF Investment Management LLC bought a new stake in Key Energy Services in the 2nd quarter valued at about $526,000. 49.33% of the stock is owned by institutional investors and hedge funds.
Key Energy Services Company Profile
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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