C&J Energy Services Inc (CJ) Expected to Announce Quarterly Sales of $524.76 Million

Equities analysts forecast that C&J Energy Services Inc (NYSE:CJ) will post sales of $524.76 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for C&J Energy Services’ earnings, with the lowest sales estimate coming in at $495.59 million and the highest estimate coming in at $583.00 million. C&J Energy Services posted sales of $491.75 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The firm is scheduled to issue its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that C&J Energy Services will report full-year sales of $2.26 billion for the current year, with estimates ranging from $2.23 billion to $2.36 billion. For the next financial year, analysts forecast that the business will report sales of $2.32 billion, with estimates ranging from $2.21 billion to $2.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover C&J Energy Services.

C&J Energy Services (NYSE:CJ) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $567.92 million during the quarter, compared to the consensus estimate of $586.66 million. C&J Energy Services had a return on equity of 7.19% and a net margin of 5.24%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS.

Several research analysts have weighed in on CJ shares. Johnson Rice started coverage on C&J Energy Services in a research note on Monday, September 17th. They issued an “accumulate” rating and a $26.00 price target for the company. Jefferies Financial Group set a $25.00 price target on C&J Energy Services and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. BMO Capital Markets dropped their price target on C&J Energy Services from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Piper Jaffray Companies set a $34.00 price target on C&J Energy Services and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, Credit Suisse Group upped their price target on C&J Energy Services from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $30.02.

Several institutional investors and hedge funds have recently bought and sold shares of CJ. BlackRock Inc. boosted its position in C&J Energy Services by 139.2% during the second quarter. BlackRock Inc. now owns 9,126,478 shares of the company’s stock valued at $215,387,000 after purchasing an additional 5,310,518 shares in the last quarter. Point72 Asset Management L.P. boosted its position in C&J Energy Services by 134.6% during the second quarter. Point72 Asset Management L.P. now owns 3,041,980 shares of the company’s stock valued at $71,791,000 after purchasing an additional 1,745,390 shares in the last quarter. Towle & Co. bought a new stake in C&J Energy Services during the third quarter valued at about $23,996,000. Alliancebernstein L.P. boosted its position in C&J Energy Services by 149.2% during the third quarter. Alliancebernstein L.P. now owns 1,045,048 shares of the company’s stock valued at $21,737,000 after purchasing an additional 625,678 shares in the last quarter. Finally, Feinberg Stephen boosted its position in C&J Energy Services by 361.4% during the second quarter. Feinberg Stephen now owns 691,612 shares of the company’s stock valued at $16,322,000 after purchasing an additional 541,712 shares in the last quarter.

CJ stock opened at $15.08 on Friday. C&J Energy Services has a 1-year low of $14.87 and a 1-year high of $36.57. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -107.71 and a beta of 0.73.

C&J Energy Services Company Profile

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.

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Earnings History and Estimates for C&J Energy Services (NYSE:CJ)

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