National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Rating of “Buy” from Analysts

National Energy Services Reunited (NASDAQ:NESR) has been assigned an average recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts recently commented on the stock. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. BTIG Research lifted their price target on National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Bank of America started coverage on National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating for the company. Finally, Maxim Group set a $30.00 price objective on National Energy Services Reunited in a research note on Monday, January 12th.

National Energy Services Reunited Trading Down 2.0%

NASDAQ NESR opened at $20.64 on Friday. National Energy Services Reunited has a one year low of $5.20 and a one year high of $26.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 0.57 and a beta of 0.18. The company’s 50-day simple moving average is $21.16 and its two-hundred day simple moving average is $15.70.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm had revenue of $398.26 million during the quarter. The firm’s revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of National Energy Services Reunited in the 3rd quarter worth approximately $34,000. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the 2nd quarter worth approximately $34,000. Ameritas Investment Partners Inc. bought a new position in shares of National Energy Services Reunited during the 2nd quarter worth approximately $37,000. Finally, Acadian Asset Management LLC purchased a new stake in National Energy Services Reunited during the first quarter valued at approximately $48,000. 15.55% of the stock is currently owned by institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.