$224.28 Million in Sales Expected for Newpark Resources Inc (NYSE:NR) This Quarter

Analysts expect Newpark Resources Inc (NYSE:NR) to announce sales of $224.28 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Newpark Resources’ earnings. The highest sales estimate is $224.30 million and the lowest is $224.25 million. Newpark Resources posted sales of $235.33 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The firm is scheduled to issue its next earnings results on Thursday, October 24th.

On average, analysts expect that Newpark Resources will report full year sales of $858.27 million for the current financial year, with estimates ranging from $833.30 million to $883.23 million. For the next year, analysts expect that the company will report sales of $1.04 billion, with estimates ranging from $977.70 million to $1.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Newpark Resources.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The firm had revenue of $216.41 million for the quarter, compared to analyst estimates of $216.63 million. During the same period last year, the firm posted $0.12 EPS. The business’s revenue was down 8.4% compared to the same quarter last year.

Several equities research analysts recently weighed in on NR shares. Raymond James set a $12.00 price objective on shares of Newpark Resources and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Wednesday. TheStreet downgraded shares of Newpark Resources from a “b” rating to a “c+” rating in a report on Friday, April 26th. Finally, ValuEngine raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.00.

Hedge funds have recently bought and sold shares of the stock. Miles Capital Inc. lifted its holdings in Newpark Resources by 9.7% in the 2nd quarter. Miles Capital Inc. now owns 16,557 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 1,459 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Newpark Resources by 3.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 49,313 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 1,725 shares during the last quarter. Texas Permanent School Fund lifted its holdings in Newpark Resources by 3.1% in the 1st quarter. Texas Permanent School Fund now owns 61,295 shares of the oil and gas company’s stock valued at $561,000 after acquiring an additional 1,871 shares during the last quarter. Rhumbline Advisers lifted its holdings in Newpark Resources by 0.8% in the 1st quarter. Rhumbline Advisers now owns 274,292 shares of the oil and gas company’s stock valued at $2,513,000 after acquiring an additional 2,086 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Newpark Resources by 2.6% in the 1st quarter. Comerica Bank now owns 91,260 shares of the oil and gas company’s stock valued at $844,000 after acquiring an additional 2,349 shares during the last quarter. 98.65% of the stock is owned by institutional investors and hedge funds.

Shares of NR traded down $0.04 during midday trading on Thursday, hitting $6.66. 175,600 shares of the stock traded hands, compared to its average volume of 524,141. Newpark Resources has a 1-year low of $6.29 and a 1-year high of $11.25. The firm has a market capitalization of $651.15 million, a PE ratio of 16.24 and a beta of 1.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 3.57. The business’s 50 day moving average price is $7.03 and its two-hundred day moving average price is $7.88.

About Newpark Resources

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.

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Earnings History and Estimates for Newpark Resources (NYSE:NR)

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