NCS Multistage (NASDAQ:NCSM) Releases Earnings Results, Misses Expectations By $0.83 EPS

NCS Multistage (NASDAQ:NCSM) announced its earnings results on Thursday. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.83), Zacks reports. NCS Multistage had a return on equity of 6.58% and a net margin of 10.78%.

NCS Multistage Stock Up 3.2%

Shares of NCS Multistage stock traded up $1.39 on Thursday, reaching $45.42. 4,484 shares of the company were exchanged, compared to its average volume of 10,986. The company has a market capitalization of $119.00 million, a price-to-earnings ratio of 6.57 and a beta of 0.16. The company has a current ratio of 5.35, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. NCS Multistage has a one year low of $29.48 and a one year high of $87.36. The company has a 50-day moving average of $47.18 and a 200 day moving average of $50.45.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings cut shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research upgraded shares of NCS Multistage from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of NCS Multistage to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On NCS Multistage

A number of institutional investors have recently added to or reduced their stakes in NCSM. PNC Financial Services Group Inc. raised its position in NCS Multistage by 342.6% during the third quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after acquiring an additional 668 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of NCS Multistage in the 3rd quarter valued at about $299,000. NewEdge Advisors LLC increased its stake in shares of NCS Multistage by 3,774.4% during the 2nd quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after purchasing an additional 7,964 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NCS Multistage by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 10,153 shares of the company’s stock worth $401,000 after purchasing an additional 411 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NCS Multistage by 7.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 17,473 shares of the company’s stock valued at $892,000 after purchasing an additional 1,200 shares during the period. 70.91% of the stock is currently owned by institutional investors and hedge funds.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.