Wall Street analysts expect that Key Energy Services, Inc. (NYSE:KEG) will announce $152.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Key Energy Services’ earnings. The highest sales estimate is $153.40 million and the lowest is $151.00 million. Key Energy Services reported sales of $110.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 37.6%. The business is expected to announce its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Key Energy Services will report full year sales of $562.55 million for the current financial year, with estimates ranging from $542.00 million to $583.10 million. For the next financial year, analysts expect that the company will report sales of $690.15 million per share, with estimates ranging from $663.00 million to $717.30 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Key Energy Services.

Key Energy Services (NYSE:KEG) last released its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.10). The company had revenue of $144.41 million during the quarter, compared to analysts’ expectations of $141.20 million.

Several research firms recently issued reports on KEG. ValuEngine upgraded Key Energy Services from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research cut Key Energy Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Shares of NYSE:KEG traded up $0.08 during trading on Monday, hitting $13.30. 53,967 shares of the company’s stock were exchanged, compared to its average volume of 87,450. Key Energy Services has a 52-week low of $8.20 and a 52-week high of $18.40. The stock has a market capitalization of $272.90 million, a P/E ratio of -2.11 and a beta of 2.39.

In related news, SVP Scott P. Miller sold 8,606 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $12.93, for a total transaction of $111,275.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.96% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in KEG. Contrarian Capital Management L.L.C. lifted its stake in shares of Key Energy Services by 0.4% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 2,296,311 shares of the oil and gas company’s stock valued at $26,913,000 after purchasing an additional 9,126 shares during the last quarter. Federated Investors Inc. PA lifted its stake in shares of Key Energy Services by 6.7% in the 1st quarter. Federated Investors Inc. PA now owns 77,816 shares of the oil and gas company’s stock valued at $912,000 after purchasing an additional 4,890 shares during the last quarter. Akanthos Capital Management LLC lifted its stake in shares of Key Energy Services by 1,400.0% in the 1st quarter. Akanthos Capital Management LLC now owns 1,500,000 shares of the oil and gas company’s stock valued at $879,000 after purchasing an additional 1,400,000 shares during the last quarter. Boston Partners lifted its stake in shares of Key Energy Services by 111.7% in the 1st quarter. Boston Partners now owns 455,757 shares of the oil and gas company’s stock valued at $5,341,000 after purchasing an additional 240,460 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Key Energy Services by 149.4% in the 4th quarter. Deutsche Bank AG now owns 24,319 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 14,567 shares during the last quarter. 52.92% of the stock is owned by institutional investors.

Key Energy Services Company Profile

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. The company's U.S. Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their lives, as well as provision of specialty drilling services to oil and natural gas producers.

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Earnings History and Estimates for Key Energy Services (NYSE:KEG)

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