C&J Energy Services Inc (CJ) Receives $19.25 Average Target Price from Brokerages
Shares of C&J Energy Services Inc (NYSE:CJ) have been given a consensus recommendation of “Hold” by the seventeen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $19.25.
Several research firms recently commented on CJ. Zacks Investment Research raised C&J Energy Services from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Bank of America reiterated a “buy” rating and issued a $20.00 price target (down from $28.00) on shares of C&J Energy Services in a report on Monday, December 3rd. Jefferies Financial Group set a $18.00 price target on C&J Energy Services and gave the company a “hold” rating in a report on Friday, February 22nd. Credit Suisse Group downgraded C&J Energy Services from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $27.00 to $16.00 in a report on Wednesday, December 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $4.25 price objective on shares of C&J Energy Services in a research note on Thursday, November 29th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of C&J Energy Services by 184.5% in the second quarter. Bank of New York Mellon Corp now owns 772,037 shares of the company’s stock worth $18,220,000 after purchasing an additional 500,647 shares in the last quarter. First Trust Advisors LP increased its holdings in C&J Energy Services by 33.6% during the 3rd quarter. First Trust Advisors LP now owns 125,164 shares of the company’s stock worth $2,603,000 after purchasing an additional 31,469 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of C&J Energy Services by 8.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 206,116 shares of the company’s stock valued at $4,289,000 after acquiring an additional 16,872 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of C&J Energy Services in the 3rd quarter valued at approximately $310,000. Finally, American Century Companies Inc. increased its holdings in shares of C&J Energy Services by 121.3% in the 3rd quarter. American Century Companies Inc. now owns 591,845 shares of the company’s stock valued at $12,310,000 after acquiring an additional 324,394 shares during the last quarter.
C&J Energy Services (NYSE:CJ) last posted its quarterly earnings data on Thursday, February 21st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. C&J Energy Services had a positive return on equity of 4.14% and a negative net margin of 5.85%. The firm had revenue of $490.60 million during the quarter, compared to analysts’ expectations of $489.07 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts predict that C&J Energy Services will post -0.63 EPS for the current fiscal year.
C&J Energy Services Company Profile
C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.
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