Shares of Keane Group Inc (NASDAQ:FRAC) traded down NaN during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $14.40 and last traded at $0.00. 1,344,961 shares traded hands during trading, an increase of Infinity from the average session volume of 0 shares. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.12). Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The company had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $493.40 million. The firm’s revenue was up 47.7% compared to the same quarter last year.
A number of research analysts recently commented on the stock. BidaskClub raised shares of Keane Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Scotiabank set a $21.00 price objective on shares of Keane Group and gave the company a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Keane Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, October 4th. Barclays PLC assumed coverage on shares of Keane Group in a research report on Friday, October 6th. They set an “underweight” rating and a $16.00 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price objective on shares of Keane Group in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.74.
A number of hedge funds have recently bought and sold shares of FRAC. Nationwide Fund Advisors bought a new stake in Keane Group in the first quarter worth approximately $119,000. Bank of New York Mellon Corp bought a new stake in Keane Group in the first quarter worth approximately $1,549,000. JPMorgan Chase & Co. bought a new stake in Keane Group in the first quarter worth approximately $1,543,000. Wellington Management Group LLP bought a new stake in Keane Group in the first quarter worth approximately $3,063,000. Finally, FMR LLC bought a new stake in Keane Group in the first quarter worth approximately $6,308,000.
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Keane Group Company Profile
Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.
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