$257.72 Million in Sales Expected for Newpark Resources Inc (NR) This Quarter

Brokerages expect Newpark Resources Inc (NYSE:NR) to announce $257.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Newpark Resources’ earnings. The lowest sales estimate is $253.43 million and the highest is $262.00 million. Newpark Resources reported sales of $227.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The business is scheduled to issue its next earnings results on Thursday, April 25th.

On average, analysts expect that Newpark Resources will report full year sales of $1.06 billion for the current fiscal year, with estimates ranging from $1.05 billion to $1.08 billion. For the next fiscal year, analysts expect that the company will report sales of $1.22 billion, with estimates ranging from $1.16 billion to $1.27 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Newpark Resources.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $247.70 million during the quarter, compared to the consensus estimate of $242.61 million. Newpark Resources had a return on equity of 6.85% and a net margin of 3.41%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share.

Several research firms have recently weighed in on NR. ValuEngine downgraded Newpark Resources from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. TheStreet cut Newpark Resources from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Finally, Zacks Investment Research cut Newpark Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $11.50.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Newpark Resources by 56.4% in the 3rd quarter. Victory Capital Management Inc. now owns 5,657,643 shares of the oil and gas company’s stock valued at $58,556,000 after purchasing an additional 2,039,238 shares during the last quarter. BTIM Corp. purchased a new stake in shares of Newpark Resources during the 3rd quarter worth approximately $11,314,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Newpark Resources by 38.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,768,600 shares of the oil and gas company’s stock worth $28,655,000 after acquiring an additional 770,950 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Newpark Resources by 5.2% during the 3rd quarter. BlackRock Inc. now owns 13,580,438 shares of the oil and gas company’s stock worth $140,558,000 after acquiring an additional 676,028 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Newpark Resources by 301.6% during the 3rd quarter. American Century Companies Inc. now owns 584,638 shares of the oil and gas company’s stock worth $6,051,000 after acquiring an additional 439,061 shares in the last quarter. 99.50% of the stock is owned by institutional investors and hedge funds.

NR stock traded down $0.02 during mid-day trading on Wednesday, reaching $9.27. 1,262,472 shares of the company’s stock were exchanged, compared to its average volume of 549,281. The company has a market capitalization of $843.60 million, a P/E ratio of 22.61 and a beta of 1.63. The company has a current ratio of 3.69, a quick ratio of 2.30 and a debt-to-equity ratio of 0.28. Newpark Resources has a 12-month low of $6.39 and a 12-month high of $11.65.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.

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