C&J Energy Services Inc (CJ) Expected to Announce Earnings of $0.67 Per Share

Wall Street analysts expect C&J Energy Services Inc (NYSE:CJ) to post earnings per share of $0.67 for the current quarter, according to Zacks. Four analysts have issued estimates for C&J Energy Services’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.62. C&J Energy Services posted earnings of ($0.07) per share in the same quarter last year, which suggests a positive year over year growth rate of 1,057.1%. The firm is expected to announce its next earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that C&J Energy Services will report full-year earnings of $2.98 per share for the current financial year, with EPS estimates ranging from $2.81 to $3.24. For the next financial year, analysts expect that the company will post earnings of $4.29 per share, with EPS estimates ranging from $2.75 to $5.37. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow C&J Energy Services.

C&J Energy Services (NYSE:CJ) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. C&J Energy Services had a return on equity of 4.72% and a net margin of 4.01%. The firm had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $538.14 million. C&J Energy Services’s revenue was up 76.0% compared to the same quarter last year.

CJ has been the subject of a number of research reports. Credit Suisse Group reiterated an “outperform” rating and issued a $32.00 price objective (down from $40.00) on shares of C&J Energy Services in a report on Monday, February 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $36.00 price objective on shares of C&J Energy Services in a report on Friday, February 23rd. Morgan Stanley cut their price objective on C&J Energy Services from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 11th. Zacks Investment Research cut C&J Energy Services from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Guggenheim set a $42.00 price objective on C&J Energy Services and gave the stock a “buy” rating in a report on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $38.75.

In related news, insider Tim Wallace sold 1,500 shares of the stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $25.15, for a total transaction of $37,725.00. Following the completion of the sale, the insider now directly owns 23,360 shares in the company, valued at approximately $587,504. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CJ. Citadel Advisors LLC lifted its holdings in C&J Energy Services by 118.5% in the 1st quarter. Citadel Advisors LLC now owns 2,606,573 shares of the company’s stock worth $67,302,000 after buying an additional 1,413,368 shares during the period. Millennium Management LLC lifted its holdings in C&J Energy Services by 1,427.2% in the 1st quarter. Millennium Management LLC now owns 1,424,834 shares of the company’s stock worth $36,789,000 after buying an additional 1,331,537 shares during the period. Van ECK Associates Corp purchased a new stake in C&J Energy Services in the 1st quarter worth approximately $32,303,000. Point72 Asset Management L.P. lifted its holdings in C&J Energy Services by 347.5% in the 1st quarter. Point72 Asset Management L.P. now owns 1,296,590 shares of the company’s stock worth $33,478,000 after buying an additional 1,006,878 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in C&J Energy Services by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,121,450 shares of the company’s stock worth $137,945,000 after buying an additional 824,958 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

C&J Energy Services opened at $24.25 on Wednesday, according to MarketBeat.com. C&J Energy Services has a 12-month low of $22.50 and a 12-month high of $36.57. The stock has a market capitalization of $1.57 billion, a PE ratio of 26.08 and a beta of 0.90.

C&J Energy Services Company Profile

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.

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Earnings History and Estimates for C&J Energy Services (NYSE:CJ)

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