Zacks: Brokerages Anticipate Newpark Resources Inc (NYSE:NR) to Post -$0.01 Earnings Per Share

Equities research analysts expect Newpark Resources Inc (NYSE:NR) to report ($0.01) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Newpark Resources’ earnings. The lowest EPS estimate is ($0.01) and the highest is $0.00. Newpark Resources posted earnings of $0.13 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 107.7%. The firm is scheduled to report its next earnings report after the market closes on Thursday, February 6th.

On average, analysts expect that Newpark Resources will report full-year earnings of $0.07 per share for the current financial year, with EPS estimates ranging from $0.07 to $0.08. For the next year, analysts expect that the business will report earnings of $0.01 per share, with EPS estimates ranging from ($0.28) to $0.27. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Newpark Resources.

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

A number of analysts have recently issued reports on the company. Zacks Investment Research cut Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TheStreet cut Newpark Resources from a “b-” rating to a “c” rating in a report on Thursday, October 31st. ValuEngine upgraded Newpark Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Raymond James set a $9.00 target price on Newpark Resources and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.17.

In other Newpark Resources 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 value of $37,300.15. Following the completion of the transaction, the chief accounting officer now owns 47,580 shares in the company, valued at approximately $288,810.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul L. Howes purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $5.84 per share, with a total value of $87,600.00. Following the acquisition, the chief executive officer now owns 855,354 shares in the company, 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.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new position in shares of Newpark Resources in the 2nd quarter valued at approximately $3,958,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Newpark Resources in the 3rd quarter valued at approximately $2,515,000. Boston Partners acquired a new position in shares of Newpark Resources in the 2nd quarter valued at approximately $2,404,000. Russell Investments Group Ltd. raised its position in shares of Newpark Resources by 26.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 953,589 shares of the oil and gas company’s stock valued at $7,266,000 after purchasing an additional 197,759 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Newpark Resources by 5.9% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,316,965 shares of the oil and gas company’s stock valued at $25,275,000 after purchasing an additional 184,750 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Shares of NYSE:NR traded down $0.18 during trading on Friday, reaching $5.26. 804,437 shares of the stock were exchanged, compared to its average volume of 621,842. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.44 and a current ratio of 3.89. Newpark Resources has a 12-month low of $5.20 and a 12-month high of $9.68. The firm has a market cap of $488.04 million, a price-to-earnings ratio of 27.20 and a beta of 1.54. The firm’s 50-day moving average price is $5.93 and its 200 day moving average price is $6.69.

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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