Piper Jaffray Companies Comments on Solaris Oilfield Infrastructure Inc’s FY2018 Earnings (SOI)
Solaris Oilfield Infrastructure Inc (NYSE:SOI) – Equities researchers at Piper Jaffray Companies lowered their FY2018 earnings per share estimates for shares of Solaris Oilfield Infrastructure in a research report issued on Sunday, November 4th. Piper Jaffray Companies analyst J. Watson now anticipates that the company will post earnings per share of $1.60 for the year, down from their prior estimate of $1.78. Piper Jaffray Companies currently has a “Buy” rating and a $22.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Solaris Oilfield Infrastructure’s Q4 2018 earnings at $0.47 EPS, Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.60 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.63 EPS, FY2019 earnings at $2.43 EPS, Q3 2020 earnings at $0.60 EPS and FY2020 earnings at $2.40 EPS.
A number of other brokerages also recently weighed in on SOI. ValuEngine upgraded Solaris Oilfield Infrastructure from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Zacks Investment Research downgraded Solaris Oilfield Infrastructure from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Seaport Global Securities reiterated a “buy” rating on shares of Solaris Oilfield Infrastructure in a report on Monday, August 6th. Finally, Stifel Nicolaus began coverage on Solaris Oilfield Infrastructure in a report on Monday, September 10th. They set a “buy” rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.60.
Solaris Oilfield Infrastructure (NYSE:SOI) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Solaris Oilfield Infrastructure had a return on equity of 25.81% and a net margin of 19.18%. The firm had revenue of $56.70 million during the quarter, compared to the consensus estimate of $56.23 million. During the same period last year, the business posted $0.12 EPS. The business’s revenue was up 206.5% compared to the same quarter last year.
In other news, Director James R. Burke sold 7,170 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $16.67, for a total transaction of $119,523.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 14.44% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in SOI. Advisors Asset Management Inc. boosted its position in shares of Solaris Oilfield Infrastructure by 450.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,582 shares of the company’s stock worth $151,000 after purchasing an additional 8,660 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Solaris Oilfield Infrastructure during the 3rd quarter worth about $152,000. Voya Investment Management LLC bought a new position in shares of Solaris Oilfield Infrastructure during the 2nd quarter worth about $153,000. California Public Employees Retirement System bought a new position in shares of Solaris Oilfield Infrastructure during the 2nd quarter worth about $176,000. Finally, US Bancorp DE boosted its position in shares of Solaris Oilfield Infrastructure by 847.1% during the 2nd quarter. US Bancorp DE now owns 13,875 shares of the company’s stock worth $199,000 after purchasing an additional 12,410 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors.
Solaris Oilfield Infrastructure Company Profile
Solaris Oilfield Infrastructure, Inc manufactures and sells patented mobile proppant management systems to unload, store, and deliver proppant at oil and natural gas well sites in the United States. The company's systems are designed for transferring large quantities of proppant to the well sites.
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