National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Recommendation of “Buy” from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $15.00.

NESR has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of National Energy Services Reunited from a “hold” rating to a “buy” rating in a report on Monday, August 25th. Piper Sandler increased their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. National Bankshares set a $16.00 price objective on National Energy Services Reunited in a research note on Tuesday, September 9th. Finally, Maxim Group began coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price target on the stock.

Institutional Investors Weigh In On National Energy Services Reunited

Large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited in the second quarter worth approximately $34,000. Ameritas Investment Partners Inc. bought a new position in shares of National Energy Services Reunited in the second quarter worth approximately $37,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter worth $48,000. Osaic Holdings Inc. bought a new position in shares of National Energy Services Reunited during the second quarter worth $73,000. Finally, ProShare Advisors LLC bought a new stake in shares of National Energy Services Reunited in the 2nd quarter worth about $75,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NASDAQ:NESR opened at $10.16 on Friday. The company’s 50 day simple moving average is $8.71 and its 200 day simple moving average is $7.18. The stock has a market capitalization of $979.93 million, a price-to-earnings ratio of 13.19 and a beta of 0.32. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $10.80.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. The firm had revenue of $327.37 million for the quarter, compared to analysts’ expectations of $316.07 million. As a group, research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

About National Energy Services Reunited

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.