Brokers Offer Predictions for Newpark Resources, Inc.’s Q1 2024 Earnings (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – B. Riley issued their Q1 2024 earnings per share (EPS) estimates for Newpark Resources in a research note issued to investors on Monday, April 8th. B. Riley analyst A. Rygiel anticipates that the oil and gas company will post earnings per share of $0.06 for the quarter. B. Riley has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. B. Riley also issued estimates for Newpark Resources’ Q2 2024 earnings at $0.07 EPS, Q3 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.31 EPS and FY2025 earnings at $0.38 EPS.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $167.82 million during the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a net margin of 1.94% and a return on equity of 6.53%.

Several other equities research analysts also recently issued reports on NR. TheStreet downgraded Newpark Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Roth Capital restated a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. Roth Mkm initiated coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 price target on the stock. Finally, StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Newpark Resources Stock Performance

NYSE NR opened at $7.42 on Thursday. The firm has a market cap of $632.20 million, a P/E ratio of 46.50 and a beta of 2.75. The company has a quick ratio of 1.59, a current ratio of 2.62 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $6.81 and its 200-day moving average is $6.81. Newpark Resources has a 12-month low of $3.40 and a 12-month high of $7.84.

Institutional Investors Weigh In On Newpark Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 303,236 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Newpark Resources by 13.7% during the 4th quarter. Vanguard Group Inc. now owns 4,761,308 shares of the oil and gas company’s stock valued at $31,615,000 after buying an additional 574,271 shares in the last quarter. Cannell Capital LLC raised its holdings in shares of Newpark Resources by 20.8% during the 1st quarter. Cannell Capital LLC now owns 4,091,358 shares of the oil and gas company’s stock valued at $14,974,000 after buying an additional 703,605 shares in the last quarter. State Street Corp lifted its position in Newpark Resources by 27.2% in the 1st quarter. State Street Corp now owns 2,176,458 shares of the oil and gas company’s stock worth $7,966,000 after buying an additional 465,650 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Newpark Resources by 7.3% in the fourth quarter. Morgan Stanley now owns 1,642,025 shares of the oil and gas company’s stock worth $6,814,000 after buying an additional 112,305 shares in the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

Newpark Resources Company Profile

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.