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

Shares of National Energy Services Reunited (NASDAQ:NESR) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26.00.

Several analysts have weighed in on NESR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. Piper Sandler raised their price target on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. UBS Group boosted their price objective on National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. National Bank Financial set a $21.00 target price on National Energy Services Reunited in a research note on Friday, January 9th. Finally, Wall Street Zen cut National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st.

National Energy Services Reunited Trading Up 1.2%

NASDAQ:NESR opened at $26.36 on Wednesday. The firm has a market capitalization of $2.54 billion, a P/E ratio of 49.74, a P/E/G ratio of 0.71 and a beta of 0.25. The business has a 50 day simple moving average of $18.90 and a 200 day simple moving average of $14.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $26.60.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million for the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.57%. The company’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. Royal Bank of Canada grew its holdings in shares of National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after acquiring an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of National Energy Services Reunited during the 3rd quarter valued at $34,000. Legal & General Group Plc purchased a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $34,000. Ameritas Investment Partners Inc. bought a new stake in shares of National Energy Services Reunited during the 2nd quarter worth $37,000. Finally, Acadian Asset Management LLC purchased a new position in shares of National Energy Services Reunited in the 1st quarter worth about $48,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.