Analysts expect that Newpark Resources Inc (NYSE:NR) will announce sales of $222.21 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Newpark Resources’ earnings. The lowest sales estimate is $215.30 million and the highest is $229.13 million. Newpark Resources reported sales of $236.26 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.9%. The firm is expected to report its next quarterly earnings results on Thursday, July 25th.
According to Zacks, analysts expect that Newpark Resources will report full year sales of $918.03 million for the current year, with estimates ranging from $893.20 million to $942.86 million. For the next fiscal year, analysts forecast that the firm will report sales of $1.12 billion, with estimates ranging from $1.04 billion to $1.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Newpark Resources.
Newpark Resources (NYSE:NR) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $211.50 million during the quarter, compared to analyst estimates of $224.17 million. Newpark Resources had a return on equity of 6.29% and a net margin of 2.83%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS.
A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Newpark Resources from a “c” rating to a “b” rating in a research report on Friday, February 8th. Zacks Investment Research upgraded Newpark Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. ValuEngine lowered Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, SunTrust Banks set a $13.00 price objective on Newpark Resources and gave the stock a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.00.
Shares of Newpark Resources stock traded down $0.06 during mid-day trading on Wednesday, reaching $7.49. 660,844 shares of the stock traded hands, compared to its average volume of 683,873. Newpark Resources has a fifty-two week low of $6.39 and a fifty-two week high of $11.65. The stock has a market capitalization of $683.32 million, a P/E ratio of 20.41 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.45 and a quick ratio of 2.81.
In other news, insider Paul L. Howes sold 106,487 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the completion of the transaction, the insider now directly owns 621,820 shares in the company, valued at $5,907,290. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul L. Howes sold 200,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.21, for a total value of $1,842,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NR. Renaissance Technologies LLC boosted its position in shares of Newpark Resources by 23.1% during the third quarter. Renaissance Technologies LLC now owns 562,350 shares of the oil and gas company’s stock worth $5,820,000 after buying an additional 105,350 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Newpark Resources by 57.7% during the third quarter. MetLife Investment Advisors LLC now owns 65,929 shares of the oil and gas company’s stock worth $682,000 after buying an additional 24,114 shares during the period. Legal & General Group Plc raised its stake in shares of Newpark Resources by 9.7% in the third quarter. Legal & General Group Plc now owns 207,963 shares of the oil and gas company’s stock valued at $2,147,000 after acquiring an additional 18,466 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Newpark Resources by 3.9% in the third quarter. Vanguard Group Inc. now owns 8,628,858 shares of the oil and gas company’s stock valued at $89,309,000 after acquiring an additional 322,856 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Newpark Resources by 1.4% in the third quarter. Clearbridge Investments LLC now owns 3,905,177 shares of the oil and gas company’s stock valued at $40,419,000 after acquiring an additional 52,587 shares in the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.
Newpark Resources Company Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.
Further Reading: What is the Current Ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Newpark Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newpark Resources and related companies with MarketBeat.com's FREE daily email newsletter.