Equities analysts expect that CARBO Ceramics Inc. (NYSE:CRR) will report sales of $46.76 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for CARBO Ceramics’ earnings. The lowest sales estimate is $45.72 million and the highest is $47.80 million. CARBO Ceramics posted sales of $53.82 million during the same quarter last year, which suggests a negative year over year growth rate of 13.1%. The company is scheduled to report its next earnings report before the market opens on Monday, November 11th.
On average, analysts expect that CARBO Ceramics will report full-year sales of $185.94 million for the current year, with estimates ranging from $183.39 million to $188.50 million. For the next year, analysts anticipate that the business will report sales of $204.77 million, with estimates ranging from $186.25 million to $223.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover CARBO Ceramics.
CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.05). The business had revenue of $43.10 million for the quarter, compared to analysts’ expectations of $51.85 million. CARBO Ceramics had a negative return on equity of 21.61% and a negative net margin of 37.95%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same period last year, the business earned ($0.55) earnings per share.
CRR stock traded down $0.22 during midday trading on Friday, hitting $2.29. The stock had a trading volume of 357,653 shares, compared to its average volume of 195,909. The firm has a market cap of $73.74 million, a PE ratio of -0.85 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.21 and a quick ratio of 1.78. CARBO Ceramics has a 12-month low of $0.83 and a 12-month high of $6.41. The company’s 50-day moving average price is $2.10 and its 200 day moving average price is $1.90.
In other news, CEO Gary A. Kolstad bought 32,350 shares of the stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $1.03 per share, with a total value of $33,320.50. Following the purchase, the chief executive officer now owns 495,000 shares of the company’s stock, valued at $509,850. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary A. Kolstad bought 25,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $1.18 per share, with a total value of $29,500.00. Following the completion of the purchase, the insider now directly owns 537,650 shares in the company, valued at approximately $634,427. The disclosure for this purchase can be found here. Insiders acquired a total of 162,350 shares of company stock valued at $206,071 over the last ninety days. 15.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CRR. SG Americas Securities LLC purchased a new stake in CARBO Ceramics in the 2nd quarter worth approximately $66,000. Acadian Asset Management LLC boosted its holdings in shares of CARBO Ceramics by 352.6% in the 2nd quarter. Acadian Asset Management LLC now owns 74,925 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 58,371 shares during the last quarter. Fayez Sarofim & Co acquired a new position in shares of CARBO Ceramics in the 2nd quarter valued at $401,000. Tieton Capital Management LLC boosted its holdings in shares of CARBO Ceramics by 6.3% in the 2nd quarter. Tieton Capital Management LLC now owns 351,451 shares of the oil and gas company’s stock valued at $474,000 after purchasing an additional 20,940 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of CARBO Ceramics by 133.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,086,828 shares of the oil and gas company’s stock valued at $2,817,000 after purchasing an additional 1,191,428 shares during the last quarter. 57.27% of the stock is owned by hedge funds and other institutional investors.
About CARBO Ceramics
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.
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