Analysts expect that Newpark Resources, Inc. (NYSE:NR) will report $197.11 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Newpark Resources’ earnings, with the highest sales estimate coming in at $199.33 million and the lowest estimate coming in at $194.60 million. Newpark Resources reported sales of $137.08 million in the same quarter last year, which indicates a positive year over year growth rate of 43.8%. The company is scheduled to announce its next earnings report on Thursday, February 8th.
On average, analysts expect that Newpark Resources will report full-year sales of $197.11 million for the current financial year, with estimates ranging from $726.00 million to $742.70 million. For the next year, analysts expect that the firm will post sales of $877.97 million per share, with estimates ranging from $793.00 million to $984.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Newpark Resources.
Newpark Resources (NYSE:NR) last issued its earnings results on Monday, October 30th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $201.70 million during the quarter, compared to the consensus estimate of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The company’s quarterly revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) EPS.
NR has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, October 24th. BidaskClub downgraded shares of Newpark Resources from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Cowen and Company set a $9.00 target price on shares of Newpark Resources and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, SunTrust Banks, Inc. raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $9.80.
Shares of Newpark Resources (NR) traded up $0.85 during trading on Wednesday, reaching $9.45. 818,330 shares of the company traded hands, compared to its average volume of 439,678. The company has a quick ratio of 1.67, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. Newpark Resources has a one year low of $5.95 and a one year high of $10.20.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Newpark Resources by 60,897.4% during the 1st quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock valued at $102,364,000 after purchasing an additional 12,616,732 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Newpark Resources by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock valued at $57,266,000 after purchasing an additional 393,328 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Newpark Resources by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,467,396 shares of the oil and gas company’s stock valued at $54,886,000 after purchasing an additional 347,306 shares during the last quarter. Daruma Capital Management LLC boosted its holdings in shares of Newpark Resources by 221.1% during the 2nd quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock valued at $42,852,000 after purchasing an additional 4,014,692 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Newpark Resources by 27.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock valued at $24,481,000 after purchasing an additional 715,250 shares during the last quarter.
About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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