National Energy Services Reunited (NASDAQ:NESR) Announces Earnings Results

National Energy Services Reunited (NASDAQ:NESR) released its quarterly earnings data on Wednesday. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02, Zacks reports. National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%.

National Energy Services Reunited Stock Up 14.0%

Shares of NASDAQ:NESR opened at $8.31 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $801.50 million, a P/E ratio of 10.26 and a beta of 0.39. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $9.89. The company’s 50-day moving average price is $6.45 and its two-hundred day moving average price is $6.93.

Wall Street Analysts Forecast Growth

NESR has been the subject of several analyst reports. Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday. Piper Sandler initiated coverage on shares of National Energy Services Reunited in a report on Monday, July 14th. They set an “overweight” rating and a $11.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.20.

Hedge Funds Weigh In On National Energy Services Reunited

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited in the second quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter valued at $48,000. BNP Paribas Financial Markets boosted its position in National Energy Services Reunited by 92.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company’s stock valued at $104,000 after buying an additional 8,337 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at $116,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of National Energy Services Reunited during the second quarter worth $138,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.