National Energy Services Reunited Corp. (NASDAQ:NESR) Expected to Announce Quarterly Sales of $259.93 Million

Equities research analysts expect National Energy Services Reunited Corp. (NASDAQ:NESR) to announce $259.93 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for National Energy Services Reunited’s earnings, with estimates ranging from $254.70 million to $265.15 million. National Energy Services Reunited reported sales of $218.42 million during the same quarter last year, which would suggest a positive year over year growth rate of 19%. The company is expected to issue its next earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that National Energy Services Reunited will report full-year sales of $980.76 million for the current financial year, with estimates ranging from $968.50 million to $993.01 million. For the next year, analysts expect that the company will post sales of $1.20 billion, with estimates ranging from $1.15 billion to $1.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for National Energy Services Reunited.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Wednesday, August 4th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.03). The company had revenue of $234.93 million during the quarter, compared to analysts’ expectations of $225.27 million. National Energy Services Reunited had a return on equity of 6.01% and a net margin of 5.40%.

A number of research firms recently issued reports on NESR. National Bankshares boosted their price objective on National Energy Services Reunited from $14.00 to $17.50 in a report on Thursday, June 17th. Zacks Investment Research cut National Energy Services Reunited from a “hold” rating to a “sell” rating in a report on Thursday, July 29th. Finally, National Bank Financial boosted their price objective on National Energy Services Reunited from $14.00 to $17.50 in a report on Thursday, June 17th.

NESR traded down $0.26 during trading hours on Tuesday, reaching $11.63. 404,648 shares of the company’s stock traded hands, compared to its average volume of 316,502. The firm has a 50-day moving average price of $12.11 and a 200 day moving average price of $12.84. National Energy Services Reunited has a 52-week low of $5.93 and a 52-week high of $15.95. The company has a quick ratio of 1.23, a current ratio of 1.53 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.06 billion, a PE ratio of 17.89 and a beta of 0.91.

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in National Energy Services Reunited by 35.9% during the 1st quarter. JPMorgan Chase & Co. now owns 221,817 shares of the company’s stock valued at $2,743,000 after purchasing an additional 58,576 shares in the last quarter. LSV Asset Management raised its position in National Energy Services Reunited by 53.6% during the 2nd quarter. LSV Asset Management now owns 829,303 shares of the company’s stock valued at $11,817,000 after purchasing an additional 289,450 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of National Energy Services Reunited by 738.0% in the 2nd quarter. Victory Capital Management Inc. now owns 271,500 shares of the company’s stock worth $3,869,000 after acquiring an additional 239,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of National Energy Services Reunited by 10.2% in the 1st quarter. Bank of New York Mellon Corp now owns 63,717 shares of the company’s stock worth $788,000 after acquiring an additional 5,889 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of National Energy Services Reunited in the 1st quarter worth $196,000. 38.75% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. is a holding company, which engages in the provision of oilfield services. It operates through the following segments: Production Services and Drilling & Evaluation Services. The Production Services segment includes coiled tubing, cementing, stimulation and pumping, nitrogen services, filtration services, completions, pipelines, laboratory services, and artificial lift services.

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