Analysts Anticipate Newpark Resources Inc (NYSE:NR) Will Post Quarterly Sales of $186.36 Million

Equities research analysts expect Newpark Resources Inc (NYSE:NR) to post sales of $186.36 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Newpark Resources’ earnings, with the highest sales estimate coming in at $190.82 million and the lowest estimate coming in at $181.90 million. Newpark Resources posted sales of $247.66 million in the same quarter last year, which would indicate a negative year over year growth rate of 24.8%. The company is scheduled to announce its next earnings results on Thursday, February 6th.

On average, analysts expect that Newpark Resources will report full-year sales of $817.04 million for the current year, with estimates ranging from $812.60 million to $821.47 million. For the next financial year, analysts expect that the firm will report sales of $865.87 million, with estimates ranging from $827.60 million to $904.14 million. Zacks’ sales averages are an average based on a survey of analysts that cover Newpark Resources.

Newpark Resources (NYSE:NR) last announced its earnings results on Wednesday, October 30th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.09). Newpark Resources had a net margin of 1.68% and a return on equity of 3.50%. The business had revenue of $202.76 million for the quarter, compared to the consensus estimate of $221.38 million. During the same quarter in the previous year, the company earned $0.04 EPS. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis.

NR has been the topic of a number of research analyst reports. ValuEngine upgraded Newpark Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James set a $9.00 price objective on shares of Newpark Resources and gave the stock a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, TheStreet downgraded shares of Newpark Resources from a “b-” rating to a “c” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $10.17.

In other news, CAO Douglas L. White sold 6,145 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $6.07, for a total transaction of $37,300.15. Following the transaction, the chief accounting officer now directly owns 47,580 shares of the company’s stock, valued at $288,810.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul L. Howes bought 15,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average cost of $5.84 per share, for a total transaction of $87,600.00. Following the completion of the transaction, the chief executive officer now directly owns 855,354 shares of the company’s stock, valued at $4,995,267.36. The disclosure for this purchase can be found here. 5.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NR. Eagle Asset Management Inc. acquired a new position in Newpark Resources during the third quarter worth $76,000. Magnus Financial Group LLC bought a new stake in shares of Newpark Resources during the second quarter worth about $106,000. Marshall Wace North America L.P. raised its holdings in shares of Newpark Resources by 1,896.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 15,972 shares of the oil and gas company’s stock worth $119,000 after acquiring an additional 15,172 shares during the last quarter. Miles Capital Inc. raised its holdings in shares of Newpark Resources by 9.7% in the 2nd quarter. Miles Capital Inc. now owns 16,557 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in Newpark Resources in the 2nd quarter valued at about $128,000. 99.71% of the stock is owned by institutional investors and hedge funds.

NR stock traded down $0.08 during mid-day trading on Friday, reaching $5.70. The company’s stock had a trading volume of 360,216 shares, compared to its average volume of 534,628. Newpark Resources has a 12 month low of $5.25 and a 12 month high of $9.68. The company has a current ratio of 3.89, a quick ratio of 2.44 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $6.46 and its 200 day moving average price is $6.93. The company has a market cap of $525.72 million, a price-to-earnings ratio of 13.90 and a beta of 1.55.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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