$112.90 Million in Sales Expected for Key Energy Services, Inc. (KEG) This Quarter
Wall Street analysts forecast that Key Energy Services, Inc. (NYSE:KEG) will announce sales of $112.90 million for the current quarter, Zacks reports. Two analysts have issued estimates for Key Energy Services’ earnings. The highest sales estimate is $113.80 million and the lowest is $112.00 million. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Key Energy Services will report full-year sales of $112.90 million for the current fiscal year, with estimates ranging from $433.00 million to $433.60 million. For the next year, analysts forecast that the firm will report sales of $520.00 million per share, with estimates ranging from $503.00 million to $537.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Key Energy Services.
KEG has been the subject of several recent research reports. Seaport Global Securities raised Key Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded Key Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Johnson Rice began coverage on Key Energy Services in a research note on Thursday, September 21st. They set an “accumulate” rating on the stock. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $17.00 target price on shares of Key Energy Services in a research note on Tuesday, September 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.17.
In other Key Energy Services news, SVP Katherine Hargis sold 6,092 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $15.00, for a total transaction of $91,380.00. Following the transaction, the senior vice president now owns 37,381 shares in the company, valued at approximately $560,715. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO David J. Brunnert sold 2,868 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $15.00, for a total value of $43,020.00. Following the transaction, the chief operating officer now owns 70,042 shares in the company, valued at approximately $1,050,630. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,888 shares of company stock worth $199,245.
Several hedge funds have recently modified their holdings of KEG. Nationwide Fund Advisors acquired a new stake in shares of Key Energy Services in the 2nd quarter valued at $108,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Key Energy Services by 46,163.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,178 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 10,156 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Key Energy Services in the 2nd quarter valued at $212,000. Rhumbline Advisers acquired a new stake in shares of Key Energy Services in the 2nd quarter valued at $253,000. Finally, Swiss National Bank acquired a new stake in shares of Key Energy Services in the 2nd quarter valued at $258,000. 49.21% of the stock is currently owned by hedge funds and other institutional investors.
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About Key Energy Services
Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.
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