Expro Group (NYSE:XPRO) Shares Gap Down on Disappointing Earnings

Expro Group Holdings N.V. (NYSE:XPRO) shares gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $15.87, but opened at $14.79. Expro Group shares last traded at $14.1760, with a volume of 95,571 shares trading hands.

The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The business had revenue of $439.94 million for the quarter, compared to the consensus estimate of $442.36 million. Expro Group had a return on equity of 3.28% and a net margin of 1.33%. Expro Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS.

Analysts Set New Price Targets

XPRO has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Expro Group in a report on Tuesday, October 27th. Zacks Research raised shares of Expro Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Barclays lowered their target price on shares of Expro Group from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Expro Group to a “hold” rating in a research report on Saturday, September 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On Expro Group

Several hedge funds and other institutional investors have recently modified their holdings of XPRO. KBC Group NV purchased a new stake in shares of Expro Group in the first quarter worth about $45,000. Royal Bank of Canada grew its stake in Expro Group by 43.8% during the first quarter. Royal Bank of Canada now owns 4,015 shares of the company’s stock valued at $71,000 after acquiring an additional 1,222 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Expro Group during the second quarter valued at approximately $62,000. Quantbot Technologies LP bought a new stake in Expro Group during the 2nd quarter worth approximately $98,000. Finally, Pallas Capital Advisors LLC bought a new stake in Expro Group during the 2nd quarter worth approximately $154,000. 92.07% of the stock is currently owned by institutional investors.

Expro Group Stock Down 9.7%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.69 and a current ratio of 2.05. The firm has a market capitalization of $1.61 billion, a PE ratio of 79.64 and a beta of 0.96. The company’s 50 day simple moving average is $16.87 and its 200-day simple moving average is $16.49.

Expro Group Company Profile

Expro Group, Inc provides energy services and technologies that support the exploration, development, and production of oil and natural gas wells. The company helps operators manage wells throughout their life cycles, from drilling and completion through production, intervention, and abandonment.

Its offerings include well construction and well management services, well flow management, subsea services, and well intervention and integrity solutions. These services are designed to improve operational efficiency, safety, well performance, and reservoir recovery in both offshore and onshore environments.

Headquartered in Houston, Texas, Expro serves energy companies across major oil and gas producing regions worldwide, including North America, the North Sea, the Middle East, Africa, Asia-Pacific, and Latin America.