Zacks: Brokerages Expect Basic Energy Services, Inc. (BAS) to Announce -$0.40 Earnings Per Share
Wall Street analysts forecast that Basic Energy Services, Inc. (NYSE:BAS) will post ($0.40) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Basic Energy Services’ earnings, with the lowest EPS estimate coming in at ($0.50) and the highest estimate coming in at ($0.35). Basic Energy Services posted earnings of ($1.18) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.1%. The business is scheduled to announce 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 earnings of ($2.44) per share for the current financial year, with EPS estimates ranging from ($3.51) to ($2.03). For the next fiscal year, analysts forecast that the business will report earnings of ($0.88) per share, with EPS estimates ranging from ($1.79) to ($0.13). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Basic Energy Services.
BAS has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Seaport Global Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Basic Energy Services in a report on Thursday, January 18th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a report on Friday, October 13th. ValuEngine lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Stephens began coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.44.
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Basic Energy Services in the 2nd quarter valued at approximately $112,000. Alambic Investment Management L.P. bought a new position in Basic Energy Services during the 4th quarter worth $230,000. Nationwide Fund Advisors bought a new position in Basic Energy Services during the 2nd quarter worth $245,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Basic Energy Services in the third quarter worth $264,000. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Basic Energy Services by 107.1% in the second quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock worth $332,000 after purchasing an additional 6,905 shares in the last quarter.
Shares of Basic Energy Services (BAS) opened at $17.31 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.59. Basic Energy Services has a 12 month low of $14.03 and a 12 month high of $44.81. The company has a market cap of $451.85, a P/E ratio of -2.65 and a beta of 2.67.
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About Basic Energy Services
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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