Target Hospitality Corp. to Post Q2 2020 Earnings of $0.01 Per Share, Oppenheimer Forecasts (NYSE:TH)

Target Hospitality Corp. (NYSE:TH) – Research analysts at Oppenheimer cut their Q2 2020 earnings per share (EPS) estimates for Target Hospitality in a research note issued on Sunday, March 22nd. Oppenheimer analyst S. Schneeberger now expects that the company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.11. Oppenheimer also issued estimates for Target Hospitality’s Q3 2020 earnings at $0.01 EPS, Q4 2020 earnings at $0.01 EPS, FY2020 earnings at $0.09 EPS and FY2021 earnings at $0.06 EPS.

Target Hospitality (NYSE:TH) last issued its quarterly earnings results on Wednesday, March 11th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $76.11 million for the quarter, compared to analyst estimates of $76.39 million.

TH has been the topic of several other research reports. Stifel Nicolaus downgraded shares of Target Hospitality from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.00 to $4.00 in a report on Tuesday, March 10th. Credit Suisse Group lowered their price target on shares of Target Hospitality from $5.50 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, March 12th. Zacks Investment Research downgraded shares of Target Hospitality from a “hold” rating to a “sell” rating in a report on Friday, March 13th. National Bank Financial lowered their price target on shares of Target Hospitality from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Saturday, December 21st. Finally, Deutsche Bank downgraded shares of Target Hospitality from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.88.

Shares of NYSE:TH opened at $1.96 on Wednesday. Target Hospitality has a 1-year low of $1.19 and a 1-year high of $11.70. The firm’s 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $5.08.

Several institutional investors have recently added to or reduced their stakes in TH. STA Wealth Management LLC raised its position in shares of Target Hospitality by 1,058.3% during the fourth quarter. STA Wealth Management LLC now owns 1,066,612 shares of the company’s stock valued at $5,333,000 after buying an additional 974,528 shares during the last quarter. Private Capital Management LLC increased its position in Target Hospitality by 27.3% in the third quarter. Private Capital Management LLC now owns 2,431,847 shares of the company’s stock worth $16,561,000 after purchasing an additional 521,033 shares during the last quarter. California Public Employees Retirement System increased its position in Target Hospitality by 2,165.9% in the fourth quarter. California Public Employees Retirement System now owns 233,296 shares of the company’s stock worth $1,166,000 after purchasing an additional 223,000 shares during the last quarter. State Street Corp increased its position in Target Hospitality by 52.7% in the third quarter. State Street Corp now owns 570,838 shares of the company’s stock worth $3,887,000 after purchasing an additional 197,097 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Target Hospitality in the fourth quarter worth $647,000.

In related news, Director Andrew P. Studdert acquired 45,653 shares of Target Hospitality stock in a transaction dated Monday, March 16th. The shares were purchased at an average price of $1.64 per share, for a total transaction of $74,870.92. Following the completion of the transaction, the director now directly owns 115,653 shares in the company, valued at approximately $189,670.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Target Hospitality Company Profile

Target Hospitality Corp., through its subsidiaries, provides specialty rental accommodations with catering and value-added hospitality services in the United States. The company was formerly known as Platinum Eagle Acquisition Corp. and changed its name to Target Hospitality Corp. in March 2019. The company is headquartered in The Woodlands, Texas.

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