Key Energy Services (NYSE:KEG) Posts Earnings Results, Misses Estimates By $0.33 EPS

Key Energy Services (NYSE:KEG) issued its quarterly earnings data on Thursday. The oil and gas company reported ($1.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.33), Fidelity Earnings reports. Key Energy Services had a negative return on equity of 614.21% and a negative net margin of 18.70%. The company had revenue of $106.52 million for the quarter, compared to the consensus estimate of $112.60 million.

Shares of KEG traded down $0.09 during mid-day trading on Friday, reaching $0.33. 1,633,985 shares of the company were exchanged, compared to its average volume of 387,891. Key Energy Services has a 52 week low of $0.30 and a 52 week high of $9.64. The company has a debt-to-equity ratio of 39.86, a quick ratio of 1.23 and a current ratio of 1.38. The stock has a market capitalization of $8.09 million, a PE ratio of -0.07 and a beta of 4.35. The business has a 50 day simple moving average of $1.23 and a two-hundred day simple moving average of $2.06.

A number of brokerages have recently issued reports on KEG. Johnson Rice downgraded Key Energy Services from an “accumulate” rating to a “hold” rating in a research report on Thursday, August 15th. Seaport Global Securities set a $3.00 price objective on Key Energy Services and gave the stock a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded Key Energy Services from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, ValuEngine downgraded Key Energy Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $3.44.

Key Energy Services Company Profile

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. It operates through Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services segments. The Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their useful lives, as well as provision of specialty drilling services to oil and natural gas producers.

Further Reading: Rule of 72

Earnings History for Key Energy Services (NYSE:KEG)

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