Brokerages Anticipate CSI Compressco LP (CCLP) Will Announce Quarterly Sales of $108.80 Million

Wall Street analysts expect CSI Compressco LP (NASDAQ:CCLP) to announce sales of $108.80 million for the current quarter, Zacks reports. Three analysts have provided estimates for CSI Compressco’s earnings. The highest sales estimate is $111.86 million and the lowest is $106.46 million. CSI Compressco posted sales of $71.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 52%. The firm is expected to report its next earnings report before the market opens on Wednesday, November 7th.

On average, analysts expect that CSI Compressco will report full-year sales of $406.44 million for the current fiscal year, with estimates ranging from $403.20 million to $412.12 million. For the next fiscal year, analysts anticipate that the business will post sales of $428.62 million, with estimates ranging from $411.40 million to $445.01 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow CSI Compressco.

CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). CSI Compressco had a negative return on equity of 51.34% and a negative net margin of 12.89%. The company had revenue of $99.92 million during the quarter, compared to analysts’ expectations of $91.13 million.



CCLP has been the subject of a number of analyst reports. BidaskClub cut CSI Compressco from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research cut CSI Compressco from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Janney Montgomery Scott cut CSI Compressco from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. Finally, ValuEngine upgraded CSI Compressco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. boosted its position in shares of CSI Compressco by 4.4% during the second quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock worth $23,856,000 after buying an additional 179,760 shares during the period. FMR LLC boosted its position in shares of CSI Compressco by 17.9% during the second quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock worth $7,916,000 after buying an additional 215,651 shares during the period. Wells Fargo & Company MN boosted its position in shares of CSI Compressco by 25.8% during the first quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock worth $6,972,000 after buying an additional 196,936 shares during the period. Renaissance Technologies LLC boosted its position in shares of CSI Compressco by 120.3% during the second quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock worth $1,719,000 after buying an additional 168,218 shares during the period. Finally, Hilltop Holdings Inc. boosted its position in shares of CSI Compressco by 23.5% during the second quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock worth $542,000 after buying an additional 18,500 shares during the period. Institutional investors and hedge funds own 26.05% of the company’s stock.

Shares of CCLP traded up $0.06 during mid-day trading on Tuesday, reaching $4.76. The company had a trading volume of 167,963 shares, compared to its average volume of 134,782. CSI Compressco has a 52-week low of $4.42 and a 52-week high of $8.05. The company has a quick ratio of 1.50, a current ratio of 2.31 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $202.70 million, a price-to-earnings ratio of -4.07 and a beta of 1.59.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.75 per share. This is a positive change from CSI Compressco’s previous quarterly dividend of $0.19. This represents a $3.00 annualized dividend and a dividend yield of 63.03%. The ex-dividend date of this dividend is Wednesday, October 31st. CSI Compressco’s dividend payout ratio (DPR) is currently -64.10%.

CSI Compressco Company Profile

CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.

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