National Energy Services Reunited (NASDAQ:NESR) Receives Average Recommendation of “Buy” from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has earned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.00.

NESR has been the topic of several analyst reports. Piper Sandler upped their price objective on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Wall Street Zen cut shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Maxim Group set a $30.00 price target on National Energy Services Reunited in a report on Monday, January 12th. JPMorgan Chase & Co. lifted their price objective on National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, National Bankshares set a $21.00 price objective on National Energy Services Reunited in a research report on Friday, January 9th.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new position in National Energy Services Reunited during the third quarter valued at $34,000. Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited during the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. purchased a new position in shares of National Energy Services Reunited during the 2nd quarter valued at about $37,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. purchased a new stake in National Energy Services Reunited in the 2nd quarter worth approximately $73,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Up 0.1%

Shares of NASDAQ:NESR opened at $19.68 on Friday. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $20.90. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $16.26 and a two-hundred day simple moving average of $12.05. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 0.57 and a beta of 0.23.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $295.32 million for the quarter, compared to analysts’ expectations of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. On average, research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

National Energy Services Reunited Company Profile

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.