Jefferies Group Equities Analysts Lift Earnings Estimates for Keane Group, Inc. (FRAC)
Keane Group, Inc. (NYSE:FRAC) – Research analysts at Jefferies Group raised their Q1 2018 earnings per share (EPS) estimates for Keane Group in a report issued on Thursday. Jefferies Group analyst B. Handler now forecasts that the company will post earnings of $0.29 per share for the quarter, up from their prior estimate of $0.27. Jefferies Group has a “Buy” rating and a $19.00 price objective on the stock. Jefferies Group also issued estimates for Keane Group’s Q2 2018 earnings at $0.33 EPS.
Keane Group (NYSE:FRAC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.12). Keane Group had a negative return on equity of 19.19% and a negative net margin of 9.90%. The firm had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $493.40 million. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year.
Several other brokerages have also issued reports on FRAC. Piper Jaffray Companies set a $23.00 price objective on Keane Group and gave the stock a “buy” rating in a report on Monday, December 25th. Citigroup set a $18.00 price objective on Keane Group and gave the stock a “hold” rating in a report on Thursday, October 5th. Barclays initiated coverage on Keane Group in a report on Friday, October 6th. They set an “underweight” rating and a $16.00 target price on the stock. BidaskClub lowered Keane Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. raised their target price on Keane Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $20.95.
Shares of Keane Group (NYSE:FRAC) traded up $0.31 during trading hours on Friday, hitting $19.05. The company had a trading volume of 939,600 shares, compared to its average volume of 983,767. The company has a quick ratio of 1.26, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. Keane Group has a twelve month low of $12.42 and a twelve month high of $22.93.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of Keane Group by 64.2% in the second quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock worth $120,000 after purchasing an additional 2,985 shares during the period. Quantbot Technologies LP acquired a new stake in Keane Group during the third quarter worth about $121,000. Boothbay Fund Management LLC acquired a new stake in Keane Group during the third quarter worth about $173,000. Parametric Portfolio Associates LLC acquired a new stake in Keane Group during the second quarter worth about $179,000. Finally, Advisors Asset Management Inc. grew its position in Keane Group by 566.6% during the third quarter. Advisors Asset Management Inc. now owns 10,972 shares of the company’s stock worth $183,000 after buying an additional 9,326 shares in the last quarter. Institutional investors and hedge funds own 38.30% of the company’s stock.
Keane Group Company Profile
Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.
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