FY2017 EPS Estimates for C&J Energy Services Inc (CJ) Boosted by Jefferies Group
C&J Energy Services Inc (NYSE:CJ) – Jefferies Group raised their FY2017 EPS estimates for shares of C&J Energy Services in a note issued to investors on Thursday. Jefferies Group analyst B. Handler now forecasts that the company will post earnings per share of ($0.06) for the year, up from their previous forecast of ($0.09). Jefferies Group has a “Buy” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for C&J Energy Services’ FY2018 earnings at $2.40 EPS, FY2019 earnings at $4.20 EPS and FY2020 earnings at $5.20 EPS.
A number of other brokerages also recently weighed in on CJ. Zacks Investment Research raised shares of C&J Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Scotiabank reissued a “hold” rating on shares of C&J Energy Services in a report on Tuesday, October 10th. Morgan Stanley raised shares of C&J Energy Services from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a report on Tuesday, November 14th. Citigroup upped their price objective on shares of C&J Energy Services from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $42.00 price objective on shares of C&J Energy Services in a report on Thursday, December 7th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.67.
C&J Energy Services (NYSE:CJ) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.10. The company had revenue of $442.70 million during the quarter, compared to analysts’ expectations of $445.87 million. C&J Energy Services’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.61) earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its position in shares of C&J Energy Services by 8.1% during the third quarter. American International Group Inc. now owns 31,119 shares of the company’s stock valued at $933,000 after buying an additional 2,327 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of C&J Energy Services by 10.1% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,292 shares of the company’s stock valued at $818,000 after buying an additional 2,505 shares during the period. Ameriprise Financial Inc. increased its position in shares of C&J Energy Services by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 522,270 shares of the company’s stock worth $15,652,000 after purchasing an additional 2,780 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of C&J Energy Services in the second quarter worth approximately $140,000. Finally, Quantbot Technologies LP bought a new position in shares of C&J Energy Services in the second quarter worth approximately $144,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.
In other news, major shareholder Alternative Asset Manage Solus sold 632,530 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $29.59, for a total transaction of $18,716,562.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tim Wallace sold 2,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $29.56, for a total value of $59,120.00. Following the sale, the insider now owns 12,248 shares in the company, valued at $362,050.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,112,330 shares of company stock worth $32,909,684.
About C&J Energy Services
C&J Energy Services, Inc is a completion and production services company, which provides well construction, well completions and well services to the oil and gas industry. The Company operates through three segments: Completion Services, Well Support Services and Other Services. The Company also manufactures, repairs and refurbishes equipment used in the oilfield services industry.
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