C&J Energy Services Inc (NYSE:CJ) Expected to Post Quarterly Sales of $465.12 Million

Equities analysts expect C&J Energy Services Inc (NYSE:CJ) to report sales of $465.12 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for C&J Energy Services’ earnings, with estimates ranging from $463.10 million to $466.36 million. C&J Energy Services reported sales of $567.92 million in the same quarter last year, which would suggest a negative year over year growth rate of 18.1%. The company is expected to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that C&J Energy Services will report full-year sales of $1.91 billion for the current fiscal year, with estimates ranging from $1.90 billion to $1.92 billion. For the next financial year, analysts forecast that the firm will report sales of $1.91 billion, with estimates ranging from $1.81 billion to $2.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for C&J Energy Services.

C&J Energy Services (NYSE:CJ) last announced its earnings results on Tuesday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.15). C&J Energy Services had a negative return on equity of 3.35% and a negative net margin of 15.12%. The firm had revenue of $501.08 million during the quarter, compared to the consensus estimate of $535.43 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was down 17.9% on a year-over-year basis.

Several equities research analysts recently weighed in on the company. Raymond James reaffirmed a “hold” rating and issued a $4.00 price target on shares of C&J Energy Services in a research note on Wednesday, July 31st. Scotiabank set a $9.00 price objective on C&J Energy Services and gave the stock a “buy” rating in a report on Monday, August 26th. Zacks Investment Research lowered C&J Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Jefferies Financial Group upgraded shares of C&J Energy Services from a “hold” rating to a “buy” rating and dropped their target price for the company from $14.00 to $13.50 in a report on Tuesday, August 20th. Finally, Piper Jaffray Companies set a $21.00 target price on shares of C&J Energy Services and gave the stock a “buy” rating in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.12.

Shares of CJ traded up $0.41 on Friday, reaching $11.04. The stock had a trading volume of 144,442 shares, compared to its average volume of 625,532. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.15. C&J Energy Services has a 12-month low of $8.55 and a 12-month high of $23.23. The firm has a market capitalization of $686.67 million, a price-to-earnings ratio of 13.52 and a beta of 1.41. The company has a 50-day simple moving average of $9.62 and a 200-day simple moving average of $12.89.

Several large investors have recently modified their holdings of the company. Texas Permanent School Fund grew its holdings in C&J Energy Services by 1.8% in the first quarter. Texas Permanent School Fund now owns 41,715 shares of the company’s stock valued at $647,000 after purchasing an additional 742 shares during the period. Factorial Partners LLC grew its position in C&J Energy Services by 2.8% in the 1st quarter. Factorial Partners LLC now owns 54,500 shares of the company’s stock valued at $846,000 after acquiring an additional 1,500 shares in the last quarter. Pinebridge Investments L.P. grew its position in C&J Energy Services by 2.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 87,167 shares of the company’s stock valued at $1,026,000 after acquiring an additional 2,192 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of C&J Energy Services by 13.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 24,475 shares of the company’s stock worth $288,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new position in shares of C&J Energy Services in the second quarter valued at approximately $35,000.

About C&J Energy Services

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services and technologies to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments.

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