Share Buyback Program Declared by Smart Sand (NASDAQ:SND) Board

Smart Sand (NASDAQ:SND) announced that its Board of Directors has initiated a share repurchase program on Thursday, February 26th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Smart Sand Stock Down 1.7%

Shares of NASDAQ SND opened at $5.08 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.06 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $4.44 and a 200-day moving average of $3.11. The firm has a market capitalization of $221.18 million, a price-to-earnings ratio of 56.44 and a beta of 0.39. Smart Sand has a 12 month low of $1.76 and a 12 month high of $5.59.

Smart Sand (NASDAQ:SND) last announced its earnings results on Monday, March 2nd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. Smart Sand had a net margin of 1.16% and a negative return on equity of 7.55%. The business had revenue of $86.05 million for the quarter, compared to the consensus estimate of $60.00 million. Sell-side analysts expect that Smart Sand will post 0.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SND shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smart Sand in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Smart Sand from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

About Smart Sand

Smart Sand, Inc (NASDAQ:SND) is a U.S.-based industrial mineral company specializing in the mining, processing and distribution of high-purity silica sand. The company’s primary business centers on the production of frac sand for the oil and gas industry, as well as specialty sand products for foundry, glass and construction applications. Through an integrated network of mines, processing plants and trans-load facilities, Smart Sand delivers precision-engineered sand solutions designed to meet stringent performance and purity requirements.

Smart Sand’s operations include flagship mining and processing facilities in Wisconsin, which supply Northern White silica sand, and production sites in Texas, strategically located to serve major U.S.