Zacks Investment Research lowered shares of National Energy Services Reunited (NASDAQ:NESR) from a hold rating to a sell rating in a research note issued to investors on Friday morning, Zacks.com reports.
According to Zacks, “Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 3,200 employees, representing more than 40 nationalities in over 14 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions, Stimulation and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services. “
Separately, Evercore ISI reiterated a buy rating and issued a $17.00 target price on shares of National Energy Services Reunited in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $14.38.
NESR stock opened at $7.67 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.11 and a debt-to-equity ratio of 0.42. National Energy Services Reunited has a 1 year low of $7.33 and a 1 year high of $14.38. The stock has a 50-day simple moving average of $8.20 and a 200-day simple moving average of $9.05.
National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. National Energy Services Reunited had a return on equity of 13.27% and a net margin of 10.70%. The business had revenue of $159.90 million during the quarter, compared to analyst estimates of $157.87 million. On average, research analysts expect that National Energy Services Reunited will post 0.94 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of NESR. Tower Research Capital LLC TRC purchased a new position in National Energy Services Reunited in the second quarter valued at about $30,000. Deutsche Bank AG purchased a new position in National Energy Services Reunited in the fourth quarter valued at about $34,000. Strs Ohio purchased a new position in National Energy Services Reunited in the second quarter valued at about $54,000. BlackRock Inc. purchased a new position in National Energy Services Reunited in the fourth quarter valued at about $60,000. Finally, Tocqueville Asset Management L.P. purchased a new position in National Energy Services Reunited in the second quarter valued at about $131,000. 18.19% of the stock is owned by hedge funds and other institutional investors.
National Energy Services Reunited Company Profile
National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.
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