Zacks: Analysts Anticipate Basic Energy Services Inc (BAS) to Post -$0.54 EPS

Equities analysts expect Basic Energy Services Inc (NYSE:BAS) to announce ($0.54) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Basic Energy Services’ earnings, with estimates ranging from ($0.62) to ($0.48). Basic Energy Services reported earnings of ($0.57) per share in the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The firm is expected to announce its next quarterly earnings results on Thursday, July 26th.

On average, analysts expect that Basic Energy Services will report full year earnings of ($1.81) per share for the current fiscal year, with EPS estimates ranging from ($2.16) to ($1.45). For the next year, analysts forecast that the company will post earnings of ($0.03) per share, with EPS estimates ranging from ($0.60) to $1.05. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Basic Energy Services.

Basic Energy Services (NYSE:BAS) last posted its quarterly earnings results on Thursday, May 3rd. The oil and gas company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.21). Basic Energy Services had a negative net margin of 9.66% and a negative return on equity of 17.01%. The firm had revenue of $234.67 million for the quarter.



A number of equities research analysts have issued reports on the company. ValuEngine raised Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Piper Jaffray Companies raised Basic Energy Services from a “neutral” rating to an “overweight” rating and set a $12.72 price target for the company in a research report on Monday, May 7th. Finally, Zacks Investment Research downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.53.

BAS stock traded down $1.70 during trading on Tuesday, reaching $13.40. 850,936 shares of the stock traded hands, compared to its average volume of 551,287. Basic Energy Services has a 52-week low of $12.72 and a 52-week high of $29.58. The company has a current ratio of 1.55, a quick ratio of 1.36 and a debt-to-equity ratio of 0.87. The company has a market cap of $353.97 million, a PE ratio of -5.75 and a beta of 2.65.

In other Basic Energy Services news, VP William Timothy Dame sold 11,878 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $15.15, for a total transaction of $179,951.70. Following the transaction, the vice president now owns 11,877 shares in the company, valued at $179,936.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $16.81, for a total value of $25,215.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,278 shares of company stock valued at $263,532. 1.95% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. acquired a new position in shares of Basic Energy Services during the fourth quarter worth about $221,000. MetLife Investment Advisors LLC acquired a new position in shares of Basic Energy Services during the fourth quarter worth about $221,000. Alambic Investment Management L.P. acquired a new position in shares of Basic Energy Services during the fourth quarter worth about $230,000. Two Sigma Investments LP acquired a new position in shares of Basic Energy Services during the fourth quarter worth about $239,000. Finally, Koch Industries Inc. acquired a new position in shares of Basic Energy Services during the first quarter worth about $227,000.

About Basic Energy Services

Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.

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Earnings History and Estimates for Basic Energy Services (NYSE:BAS)

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