CARBO Ceramics (CRR) Trading Down 1.2% on Disappointing Earnings

CARBO Ceramics Inc. (NYSE:CRR)’s share price was down 1.2% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $4.50 and last traded at $4.98. Approximately 6,905 shares were traded during trading, a decline of 99% from the average daily volume of 509,738 shares. The stock had previously closed at $5.04.

The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.24). CARBO Ceramics had a negative return on equity of 20.28% and a negative net margin of 49.19%. The firm had revenue of $53.82 million for the quarter, compared to the consensus estimate of $66.76 million.

Several analysts have issued reports on CRR shares. Zacks Investment Research lowered shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. OTR Global lowered shares of CARBO Ceramics to an “underperform” rating in a research report on Tuesday, July 24th. Piper Jaffray Companies set a $9.00 price target on shares of CARBO Ceramics and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, ValuEngine lowered shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. CARBO Ceramics currently has an average rating of “Hold” and an average price target of $9.33.



Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of CARBO Ceramics by 66.3% in the second quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 9,780 shares during the period. FMR LLC increased its position in CARBO Ceramics by 4.0% during the second quarter. FMR LLC now owns 3,672,467 shares of the oil and gas company’s stock worth $33,676,000 after acquiring an additional 140,400 shares during the period. BlackRock Inc. increased its position in CARBO Ceramics by 4.6% during the second quarter. BlackRock Inc. now owns 2,961,569 shares of the oil and gas company’s stock worth $27,159,000 after acquiring an additional 129,138 shares during the period. Spark Investment Management LLC bought a new position in CARBO Ceramics during the second quarter worth about $304,000. Finally, Schwab Charles Investment Management Inc. increased its position in CARBO Ceramics by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock worth $4,744,000 after acquiring an additional 6,944 shares during the period. 81.11% of the stock is currently owned by institutional investors.

The stock has a market capitalization of $158.95 million, a P/E ratio of -1.32 and a beta of 1.43. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.60 and a current ratio of 2.82.

CARBO Ceramics Company Profile (NYSE:CRR)

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

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