Research Analysts Issue Forecasts for Newpark Resources, Inc.’s Q2 2024 Earnings (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Research analysts at HC Wainwright increased their Q2 2024 earnings per share (EPS) estimates for Newpark Resources in a note issued to investors on Monday, May 6th. HC Wainwright analyst A. Dayal now anticipates that the oil and gas company will post earnings of $0.09 per share for the quarter, up from their previous forecast of $0.05. HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.36 EPS.

Other equities research analysts also recently issued research reports about the stock. B. Riley lifted their target price on shares of Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday. Roth Capital restated a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Roth Mkm assumed coverage on shares of Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Newpark Resources presently has an average rating of “Buy” and a consensus target price of $11.00.

Newpark Resources Stock Performance

Shares of NR stock opened at $7.35 on Wednesday. The firm has a market capitalization of $625.79 million, a PE ratio of 40.81 and a beta of 2.78. The company has a 50 day moving average price of $7.21 and a 200-day moving average price of $6.87. Newpark Resources has a 52 week low of $3.40 and a 52 week high of $7.84. The company has a quick ratio of 1.74, a current ratio of 2.79 and a debt-to-equity ratio of 0.14.

Newpark Resources (NYSE:NR) last issued its earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $167.82 million during the quarter, compared to analysts’ expectations of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%.

Hedge Funds Weigh In On Newpark Resources

Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in shares of Newpark Resources during the fourth quarter worth about $2,567,000. Russell Investments Group Ltd. boosted its stake in Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares during the period. 1492 Capital Management LLC purchased a new stake in Newpark Resources during the 4th quarter valued at approximately $2,193,000. Dimensional Fund Advisors LP raised its position in shares of Newpark Resources by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock valued at $40,859,000 after buying an additional 303,236 shares during the last quarter. Finally, Yarra Square Partners LP lifted its holdings in shares of Newpark Resources by 48.5% in the fourth quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock worth $5,406,000 after buying an additional 266,000 shares in the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.