$75.35 Million in Sales Expected for Target Hospitality Corp. (NASDAQ:TH) This Quarter

Wall Street brokerages expect that Target Hospitality Corp. (NASDAQ:TH) will report $75.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Target Hospitality’s earnings, with estimates ranging from $72.90 million to $77.80 million. Target Hospitality reported sales of $51.61 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 46%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 29th.

According to Zacks, analysts expect that Target Hospitality will report full year sales of $284.95 million for the current fiscal year, with estimates ranging from $282.50 million to $287.40 million. For the next fiscal year, analysts expect that the business will post sales of $320.10 million, with estimates ranging from $310.00 million to $330.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Target Hospitality.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings data on Friday, November 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $89.17 million for the quarter, compared to the consensus estimate of $77.50 million. Target Hospitality had a negative net margin of 6.35% and a negative return on equity of 18.18%. During the same quarter in the prior year, the firm posted ($0.08) earnings per share.

Separately, Zacks Investment Research lowered shares of Target Hospitality from a “buy” rating to a “hold” rating in a report on Saturday, January 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $4.70.

Shares of Target Hospitality stock traded up $0.10 during trading hours on Friday, hitting $3.51. The company’s stock had a trading volume of 69,818 shares, compared to its average volume of 92,382. The business has a fifty day moving average of $3.75 and a 200 day moving average of $3.76. The company has a market capitalization of $357.45 million, a PE ratio of -19.50, a P/E/G ratio of 3.89 and a beta of 2.00. Target Hospitality has a 1-year low of $1.50 and a 1-year high of $5.49. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.52.

A number of institutional investors have recently added to or reduced their stakes in TH. Renaissance Technologies LLC grew its stake in shares of Target Hospitality by 8.5% during the 2nd quarter. Renaissance Technologies LLC now owns 359,100 shares of the company’s stock worth $1,332,000 after acquiring an additional 28,231 shares in the last quarter. AdvisorShares Investments LLC grew its position in Target Hospitality by 10.0% in the third quarter. AdvisorShares Investments LLC now owns 87,644 shares of the company’s stock valued at $327,000 after acquiring an additional 7,988 shares during the last quarter. PDT Partners LLC bought a new position in Target Hospitality in the second quarter valued at about $117,000. State Street Corp boosted its stake in shares of Target Hospitality by 10.3% during the second quarter. State Street Corp now owns 570,512 shares of the company’s stock valued at $2,117,000 after purchasing an additional 53,412 shares in the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Target Hospitality during the second quarter valued at about $2,410,000. Institutional investors own 19.96% of the company’s stock.

About Target Hospitality

Target Hospitality Corp. engages in the provision of rental accommodations with premium catering and value-added hospitality services. It operates through the following business segments: Permian Basin, Bakken Basin, and Government. The Permian Basin segment operates facilities in the Permian Basin region and communities in Texas and New Mexico.

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