National Energy Services Reunited (NASDAQ:NESR) Receives $26.00 Consensus PT from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.00.

Several equities research analysts have issued reports on the stock. BTIG Research boosted their price objective on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. Barclays upped their price target on shares of National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Bank of America started coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They set a “buy” rating on the stock.

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after purchasing an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of National Energy Services Reunited during the 3rd quarter worth approximately $34,000. State of Wyoming purchased a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $76,000. Clearstead Advisors LLC boosted its stake in National Energy Services Reunited by 180.1% in the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after acquiring an additional 3,171 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in National Energy Services Reunited in the second quarter worth $34,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Trading Down 4.1%

NESR opened at $21.43 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The stock’s 50 day moving average price is $21.47 and its 200-day moving average price is $16.00. National Energy Services Reunited has a one year low of $5.20 and a one year high of $26.85. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 0.61 and a beta of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The firm had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.National Energy Services Reunited’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.