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

Newpark Resources, Inc. (NYSE:NR) – Research analysts at B. Riley boosted their Q2 2024 earnings estimates for shares of Newpark Resources in a note issued to investors on Monday, May 6th. B. Riley analyst A. Rygiel now anticipates that the oil and gas company will post earnings of $0.08 per share for the quarter, up from their previous estimate of $0.07. B. Riley currently has a “Buy” rating and a $11.00 target price 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’ FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

A number of other analysts have also recently issued reports on the company. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday. Roth Mkm began coverage on shares of Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 target price on the stock. Roth Capital reiterated a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research report on Monday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Newpark Resources has an average rating of “Buy” and a consensus target price of $11.00.

Newpark Resources Stock Performance

Shares of NR stock opened at $7.16 on Tuesday. The stock’s 50-day moving average is $7.17 and its two-hundred day moving average is $6.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79. Newpark Resources has a 1 year low of $3.40 and a 1 year high of $7.84. The firm has a market cap of $610.03 million, a price-to-earnings ratio of 39.78 and a beta of 2.78.

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

Hedge Funds Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Newpark Resources by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after acquiring an additional 303,236 shares during the period. Vanguard Group Inc. boosted its holdings in Newpark Resources by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock valued at $28,932,000 after purchasing an additional 162,941 shares in the last quarter. Wellington Management Group LLP increased its position in Newpark Resources by 20.5% during the 3rd quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock worth $6,048,000 after purchasing an additional 148,700 shares during the period. Yarra Square Partners LP raised its stake in shares of Newpark Resources by 48.5% during the 4th 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. Finally, Assenagon Asset Management S.A. raised its stake in shares of Newpark Resources by 53.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 608,342 shares of the oil and gas company’s stock worth $4,039,000 after buying an additional 212,872 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.