Q2 2024 EPS Estimates for Newpark Resources, Inc. Cut by Analyst (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Stock analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for Newpark Resources in a research note issued to investors on Tuesday, May 7th. Roth Capital analyst G. Sweeney now anticipates that the oil and gas company will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.08. Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. Roth Capital also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $0.34 EPS and FY2025 earnings at $0.43 EPS.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $167.82 million during the quarter, compared to analysts’ expectations of $170.87 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%.

NR has been the topic of several other research reports. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Monday. B. Riley boosted their price target on Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday. Finally, Roth Mkm started coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Newpark Resources currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Newpark Resources Trading Down 0.3 %

NYSE NR opened at $7.35 on Thursday. Newpark Resources has a 12 month low of $3.40 and a 12 month high of $7.84. The company has a market capitalization of $625.79 million, a price-to-earnings ratio of 40.81 and a beta of 2.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. The firm’s fifty day moving average price is $7.21 and its 200 day moving average price is $6.87.

Institutional Investors Weigh In On Newpark Resources

Institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC lifted its holdings in shares of Newpark Resources by 8.1% in the 1st quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 1,604 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Newpark Resources by 210.2% during the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Newpark Resources in the first quarter valued at about $86,000. Catalina Capital Group LLC acquired a new position in Newpark Resources during the first quarter worth about $93,000. Finally, Janney Montgomery Scott LLC purchased a new position in Newpark Resources in the first quarter valued at about $859,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.