Equities research analysts predict that Key Energy Services Inc (NYSE:KEG) will announce $120.53 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Key Energy Services’ earnings, with the lowest sales estimate coming in at $119.60 million and the highest estimate coming in at $122.00 million. Key Energy Services reported sales of $125.32 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The firm is expected to report its next quarterly earnings results on Wednesday, May 8th.
According to Zacks, analysts expect that Key Energy Services will report full year sales of $538.67 million for the current financial year, with estimates ranging from $509.00 million to $583.50 million. For the next financial year, analysts expect that the company will post sales of $630.93 million, with estimates ranging from $577.00 million to $691.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Key Energy Services.
A number of equities analysts have commented on KEG shares. ValuEngine upgraded shares of Key Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Piper Jaffray Companies set a $3.00 target price on shares of Key Energy Services and gave the stock a “hold” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Simmons dropped their target price on shares of Key Energy Services from $45.00 to $3.25 and set a “neutral” rating on the stock in a research note on Thursday, December 27th. Finally, Capital One Financial downgraded shares of Key Energy Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 16th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Key Energy Services presently has a consensus rating of “Buy” and an average price target of $4.94.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Key Energy Services by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 98,509 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 4,565 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Key Energy Services by 34.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,258 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 23,463 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Key Energy Services during the fourth quarter worth $38,000. Two Sigma Investments LP purchased a new position in shares of Key Energy Services during the fourth quarter worth $189,000. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of Key Energy Services during the fourth quarter worth $554,000. 49.45% of the stock is owned by institutional investors and hedge funds.
KEG stock traded down $1.01 during mid-day trading on Thursday, reaching $4.79. The company had a trading volume of 580,137 shares, compared to its average volume of 548,435. The company has a market capitalization of $97.54 million, a P/E ratio of -1.06 and a beta of 2.95. Key Energy Services has a 12 month low of $1.59 and a 12 month high of $18.40.
Key Energy Services Company Profile
Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. The company's U.S. Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their lives, as well as provision of specialty drilling services to oil and natural gas producers.
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