Zacks: Brokerages Anticipate Basic Energy Services, Inc. (BAS) Will Announce Quarterly Sales of $239.39 Million
Equities analysts expect that Basic Energy Services, Inc. (NYSE:BAS) will post sales of $239.39 million for the current quarter, according to Zacks. Three analysts have issued estimates for Basic Energy Services’ earnings. The highest sales estimate is $244.00 million and the lowest is $232.48 million. Basic Energy Services posted sales of $155.53 million in the same quarter last year, which would indicate a positive year over year growth rate of 53.9%. The firm is expected to report its next earnings report after the market closes on Thursday, March 1st.
According to Zacks, analysts expect that Basic Energy Services will report full year sales of $239.39 million for the current year, with estimates ranging from $861.25 million to $871.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $1.08 billion per share, with estimates ranging from $1.06 billion to $1.09 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Basic Energy Services.
BAS has been the subject of several recent research reports. ValuEngine downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Seaport Global Securities upgraded Basic Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Credit Suisse Group boosted their price objective on Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Piper Jaffray Companies restated a “hold” rating and set a $24.50 price objective on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Stephens initiated coverage on Basic Energy Services in a report on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Basic Energy Services has a consensus rating of “Hold” and an average target price of $28.44.
A number of institutional investors have recently made changes to their positions in the stock. Phocas Financial Corp. grew its holdings in Basic Energy Services by 112.2% during the fourth quarter. Phocas Financial Corp. now owns 349,104 shares of the oil and gas company’s stock worth $8,193,000 after buying an additional 184,589 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Basic Energy Services during the fourth quarter worth $221,000. Municipal Employees Retirement System of Michigan bought a new stake in Basic Energy Services during the fourth quarter worth $922,000. Millennium Management LLC grew its holdings in Basic Energy Services by 46.9% during the fourth quarter. Millennium Management LLC now owns 1,000,893 shares of the oil and gas company’s stock worth $23,491,000 after buying an additional 319,716 shares in the last quarter. Finally, Cushing Asset Management LP grew its holdings in Basic Energy Services by 222.7% during the fourth quarter. Cushing Asset Management LP now owns 32,272 shares of the oil and gas company’s stock worth $757,000 after buying an additional 22,272 shares in the last quarter.
Basic Energy Services (NYSE BAS) traded up $0.30 during midday trading on Friday, hitting $18.73. The stock had a trading volume of 276,440 shares, compared to its average volume of 444,258. Basic Energy Services has a 52-week low of $14.03 and a 52-week high of $42.79. The company has a quick ratio of 1.42, a current ratio of 1.59 and a debt-to-equity ratio of 0.76.
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Basic Energy Services Company Profile
Basic Energy Services, Inc provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.
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