$192.59 Million in Sales Expected for National Energy Services Reunited Corp (NASDAQ:NESR) This Quarter

Equities research analysts predict that National Energy Services Reunited Corp (NASDAQ:NESR) will post $192.59 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for National Energy Services Reunited’s earnings, with estimates ranging from $190.27 million to $194.90 million. National Energy Services Reunited reported sales of $159.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20.4%. The business is scheduled to report its next earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that National Energy Services Reunited will report full year sales of $815.03 million for the current financial year, with estimates ranging from $790.16 million to $839.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $924.30 million, with estimates ranging from $923.80 million to $924.79 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow National Energy Services Reunited.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. National Energy Services Reunited had a net margin of 5.32% and a return on equity of 7.31%. The business had revenue of $199.30 million for the quarter, compared to analysts’ expectations of $181.71 million.

Several equities research analysts have commented on NESR shares. Zacks Investment Research upgraded shares of National Energy Services Reunited from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Barclays boosted their price target on shares of National Energy Services Reunited from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Evercore ISI reiterated a “buy” rating and issued a $17.00 price target on shares of National Energy Services Reunited in a research report on Tuesday, February 18th. Finally, National Bank Financial dropped their price target on shares of National Energy Services Reunited from $13.50 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th.

Shares of NASDAQ NESR opened at $5.49 on Friday. National Energy Services Reunited has a fifty-two week low of $4.04 and a fifty-two week high of $9.80. The firm’s 50-day simple moving average is $4.83 and its 200 day simple moving average is $7.06. The company has a quick ratio of 1.36, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The stock has a market cap of $465.60 million, a P/E ratio of 12.77 and a beta of 0.79.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in National Energy Services Reunited by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 65,167 shares of the company’s stock worth $595,000 after purchasing an additional 4,306 shares in the last quarter. Citigroup Inc. increased its stake in National Energy Services Reunited by 870.6% in the 4th quarter. Citigroup Inc. now owns 5,785 shares of the company’s stock worth $53,000 after purchasing an additional 5,189 shares in the last quarter. Crystal Rock Capital Management increased its stake in National Energy Services Reunited by 1.5% in the 1st quarter. Crystal Rock Capital Management now owns 515,520 shares of the company’s stock worth $2,619,000 after purchasing an additional 7,500 shares in the last quarter. Barclays PLC increased its stake in National Energy Services Reunited by 60.7% in the 4th quarter. Barclays PLC now owns 24,277 shares of the company’s stock worth $221,000 after purchasing an additional 9,174 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in National Energy Services Reunited by 440.6% in the 4th quarter. Bank of Montreal Can now owns 11,272 shares of the company’s stock worth $102,000 after purchasing an additional 9,187 shares in the last quarter. 24.18% of the stock is currently owned by hedge funds and other institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.

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