Q3 2024 EPS Estimates for Newpark Resources, Inc. Decreased by Roth Capital (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Stock analysts at Roth Capital dropped their Q3 2024 earnings per share (EPS) estimates for Newpark Resources in a research note issued on Tuesday, September 24th. Roth Capital analyst G. Sweeney now anticipates that the oil and gas company will post earnings per share of $0.05 for the quarter, down from their prior forecast of $0.07. The consensus estimate for Newpark Resources’ current full-year earnings is $0.36 per share. Roth Capital also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.46 EPS.

Newpark Resources (NYSE:NR) last released its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The firm had revenue of $179.01 million for the quarter, compared to analyst estimates of $171.04 million. During the same quarter last year, the company posted $0.08 earnings per share.

A number of other equities research analysts also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research report on Thursday, September 19th. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Performance

NYSE NR opened at $6.86 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The business’s 50-day moving average price is $7.74 and its 200 day moving average price is $7.67. The firm has a market cap of $593.18 million, a P/E ratio of 38.11 and a beta of 2.87.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Newpark Resources during the 4th quarter valued at approximately $2,567,000. Janney Montgomery Scott LLC acquired a new stake in shares of Newpark Resources during the 1st quarter valued at approximately $859,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Newpark Resources by 67.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock valued at $2,368,000 after acquiring an additional 131,609 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Newpark Resources during the 2nd quarter valued at approximately $538,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Newpark Resources by 44.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock valued at $3,672,000 after acquiring an additional 135,427 shares during the period. Institutional investors and hedge funds 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.