Brokerages Anticipate C&J Energy Services Inc (NYSE:CJ) Will Announce Quarterly Sales of $465.12 Million

Wall Street analysts expect that C&J Energy Services Inc (NYSE:CJ) will announce sales of $465.12 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for C&J Energy Services’ earnings. The lowest sales estimate is $463.10 million and the highest is $466.36 million. C&J Energy Services reported sales of $567.92 million during the same quarter last year, which would suggest a negative year over year growth rate of 18.1%. The business is scheduled to report its next earnings report on Thursday, November 7th.

On average, analysts expect that C&J Energy Services will report full year sales of $1.91 billion for the current fiscal year, with estimates ranging from $1.90 billion to $1.92 billion. For the next financial year, analysts forecast that the firm will report sales of $1.91 billion, with estimates ranging from $1.81 billion to $2.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for C&J Energy Services.

C&J Energy Services (NYSE:CJ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.15). The business had revenue of $501.08 million during the quarter, compared to analyst estimates of $535.43 million. C&J Energy Services had a negative return on equity of 3.35% and a negative net margin of 15.12%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS.



CJ has been the subject of several recent analyst reports. Bank of America decreased their target price on C&J Energy Services from $18.00 to $13.50 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Scotiabank set a $9.00 price target on C&J Energy Services and gave the company a “buy” rating in a research report on Monday, August 26th. ValuEngine raised C&J Energy Services from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Jaffray Companies set a $21.00 price objective on C&J Energy Services and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, Zacks Investment Research cut C&J Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.12.

CJ traded up $0.41 during trading on Friday, reaching $11.04. The company had a trading volume of 144,442 shares, compared to its average volume of 625,532. The firm’s 50-day simple moving average is $9.62 and its 200 day simple moving average is $12.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.15. The company has a market cap of $686.67 million, a price-to-earnings ratio of 13.52 and a beta of 1.41. C&J Energy Services has a 12-month low of $8.55 and a 12-month high of $23.23.

A number of large investors have recently modified their holdings of CJ. GSA Capital Partners LLP bought a new position in shares of C&J Energy Services in the second quarter worth about $536,000. Arizona State Retirement System boosted its position in C&J Energy Services by 48.2% in the 1st quarter. Arizona State Retirement System now owns 94,776 shares of the company’s stock valued at $1,471,000 after buying an additional 30,803 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of C&J Energy Services in the 1st quarter valued at $601,000. ARP Americas LP acquired a new stake in shares of C&J Energy Services in the 2nd quarter valued at $1,282,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of C&J Energy Services in the 4th quarter valued at $9,679,000.

C&J Energy Services Company Profile

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services and technologies to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments.

Featured Story: Green Investing

Get a free copy of the Zacks research report on C&J Energy Services (CJ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for C&J Energy Services (NYSE:CJ)

Receive News & Ratings for C&J Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C&J Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.