Smart Sand Inc (NYSE:SND) Issues Quarterly Earnings Results
Smart Sand Inc (NYSE:SND) issued its earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by $0.03, MarketWatch Earnings reports. Smart Sand had a return on equity of 2.51% and a net margin of 3.87%. The company had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 250.9% compared to the same quarter last year.
Smart Sand (NYSE SND) traded down 14.07% during mid-day trading on Thursday, hitting $5.19. 2,154,835 shares of the stock traded hands. The stock has a 50 day moving average price of $7.25 and a 200 day moving average price of $12.41. Smart Sand has a 12-month low of $5.18 and a 12-month high of $21.99. The firm has a market cap of $209.36 million and a PE ratio of 13.73.
Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of Smart Sand during the first quarter valued at about $35,404,000. Eagle Asset Management Inc. acquired a new position in shares of Smart Sand during the first quarter valued at about $12,268,000. Goldman Sachs Group Inc. boosted its position in shares of Smart Sand by 86.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after buying an additional 650,587 shares in the last quarter. Sprott Inc. acquired a new position in shares of Smart Sand during the first quarter valued at about $10,562,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Smart Sand during the second quarter valued at about $3,965,000.
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Several research analysts have weighed in on SND shares. Jefferies Group LLC restated a “buy” rating and set a $15.00 target price (down from $20.00) on shares of Smart Sand in a research report on Monday, June 26th. Zacks Investment Research lowered shares of Smart Sand from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Credit Suisse Group lowered shares of Smart Sand from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $8.50 in a research report on Thursday, July 20th. Evercore ISI started coverage on shares of Smart Sand in a research report on Thursday, May 25th. They set an “in-line” rating and a $12.00 target price on the stock. Finally, Deutsche Bank AG restated a “buy” rating and set a $18.00 target price (down from $21.00) on shares of Smart Sand in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.95.
About Smart Sand
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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