Smart Sand (NASDAQ:SND) to Repurchase $20.00 million in Outstanding Shares

Smart Sand (NASDAQ:SND) declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 26th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SND. Wall Street Zen lowered shares of Smart Sand from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. Weiss Ratings restated a “hold (c)” rating on shares of Smart Sand in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Smart Sand presently has an average rating of “Hold”.

Smart Sand Stock Up 2.2%

Shares of NASDAQ:SND opened at $5.19 on Friday. Smart Sand has a 52 week low of $1.76 and a 52 week high of $5.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.06 and a current ratio of 1.70. The company’s fifty day moving average is $4.47 and its 200-day moving average is $3.14. The company has a market capitalization of $225.97 million, a PE ratio of 173.00 and a beta of 0.39.

Smart Sand (NASDAQ:SND) last announced its earnings results on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The business had revenue of $86.05 million during the quarter, compared to analysts’ expectations of $60.00 million. Smart Sand had a net margin of 0.41% and a negative return on equity of 8.73%. Equities research analysts predict that Smart Sand will post 0.07 earnings per share for the current fiscal year.

About Smart Sand

Smart Sand, Inc (NASDAQ:SND) is a U.S.-based industrial mineral company specializing in the mining, processing and distribution of high-purity silica sand. The company’s primary business centers on the production of frac sand for the oil and gas industry, as well as specialty sand products for foundry, glass and construction applications. Through an integrated network of mines, processing plants and trans-load facilities, Smart Sand delivers precision-engineered sand solutions designed to meet stringent performance and purity requirements.

Smart Sand’s operations include flagship mining and processing facilities in Wisconsin, which supply Northern White silica sand, and production sites in Texas, strategically located to serve major U.S.