National Energy Services Reunited (NASDAQ:NESR) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

National Energy Services Reunited (NASDAQ:NESR) issued its quarterly earnings results on Monday. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02, FiscalAI reports. The business had revenue of $504.73 million for the quarter, compared to analysts’ expectations of $495.93 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%.

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $19.96 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86. The business has a fifty day simple moving average of $26.56 and a two-hundred day simple moving average of $25.55. National Energy Services Reunited has a 1 year low of $12.21 and a 1 year high of $36.94. The company has a market capitalization of $2.01 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.23 and a beta of 0.57.

Analysts Set New Price Targets

A number of brokerages have commented on NESR. BTIG Research raised their price objective on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Wall Street Zen lowered National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Capital One Financial assumed coverage on National Energy Services Reunited in a report on Wednesday, September 30th. They issued an “overweight” rating and a $44.00 target price on the stock. Finally, Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.38.

Insider Activity

In other National Energy Services Reunited news, Director Mejia Antonio J. Campo sold 63,324 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the transaction, the director owned 696,398 shares in the company, valued at $24,687,309.10. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 176,894 shares of company stock valued at $6,221,414 over the last quarter. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells.

The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.

Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.