Newpark Resources, Inc. (NR) Expected to Post Earnings of $0.03 Per Share
Equities research analysts expect Newpark Resources, Inc. (NYSE:NR) to post earnings of $0.03 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Newpark Resources’ earnings. The lowest EPS estimate is $0.02 and the highest is $0.04. Newpark Resources posted earnings of ($0.06) per share in the same quarter last year, which suggests a positive year over year growth rate of 150%. The firm is expected to announce its next earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Newpark Resources will report full-year earnings of $0.07 per share for the current fiscal year, with EPS estimates ranging from $0.06 to $0.07. For the next financial year, analysts anticipate that the company will report earnings of $0.39 per share, with EPS estimates ranging from $0.24 to $0.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newpark Resources.
Newpark Resources (NYSE:NR) last released its quarterly earnings results on Monday, October 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.01). The business had revenue of C$201.70 million for the quarter, compared to analysts’ expectations of C$192.57 million. Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. Newpark Resources’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) EPS.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. SunTrust Banks, Inc. raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Cowen and Company set a $9.00 target price on shares of Newpark Resources and gave the company a “hold” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of C$9.80.
Several hedge funds and other institutional investors have recently bought and sold shares of NR. BlackRock Inc. grew its holdings in shares of Newpark Resources by 60,897.4% in the first quarter. BlackRock Inc. now owns 12,637,450 shares of the company’s stock worth $102,364,000 after purchasing an additional 12,616,732 shares during the last quarter. Daruma Capital Management LLC grew its holdings in shares of Newpark Resources by 221.1% in the second quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the company’s stock worth $42,852,000 after purchasing an additional 4,014,692 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Newpark Resources by 27.3% in the second quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the company’s stock worth $24,481,000 after purchasing an additional 715,250 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Newpark Resources in the second quarter worth about $5,013,000. Finally, Vanguard Group Inc. grew its holdings in shares of Newpark Resources by 5.3% in the second quarter. Vanguard Group Inc. now owns 7,791,303 shares of the company’s stock worth $57,266,000 after purchasing an additional 393,328 shares during the last quarter.
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Shares of Newpark Resources (NR) opened at C$9.65 on Monday. Newpark Resources has a 12 month low of C$6.25 and a 12 month high of C$10.20. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27.
Newpark Resources Company Profile
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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