Newpark Resources Inc. (NYSE:NR) has earned an average rating of “Buy” from the ten research firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.46.
Several equities research analysts have recently weighed in on NR shares. Leerink Swann reaffirmed a “buy” rating and issued a $108.00 target price on shares of Newpark Resources in a report on Thursday, August 25th. Zacks Investment Research lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group AG started coverage on shares of Newpark Resources in a report on Monday, July 18th. They issued an “outperform” rating and a $7.00 target price on the stock. Capital One Financial Corp. raised shares of Newpark Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $5.00 to $6.00 in a report on Wednesday, June 15th. Finally, Loop Capital started coverage on shares of Newpark Resources in a report on Friday, September 30th. They issued a “hold” rating on the stock.
Shares of Newpark Resources (NYSE:NR) opened at 7.40 on Monday. Newpark Resources has a 12-month low of $3.35 and a 12-month high of $7.73. The company’s market capitalization is $625.44 million. The company has a 50 day moving average of $7.11 and a 200-day moving average of $5.74.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.09. Newpark Resources had a negative net margin of 21.47% and a negative return on equity of 6.09%. The business had revenue of $115.30 million for the quarter, compared to analyst estimates of $106.93 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was down 29.5% compared to the same quarter last year. On average, equities analysts anticipate that Newpark Resources will post ($0.43) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of NR. Foundry Partners LLC raised its position in shares of Newpark Resources by 1.1% in the third quarter. Foundry Partners LLC now owns 349,140 shares of the company’s stock valued at $2,570,000 after buying an additional 3,925 shares during the period. Nomura Holdings Inc. raised its position in shares of Newpark Resources by 116.8% in the second quarter. Nomura Holdings Inc. now owns 24,700 shares of the company’s stock valued at $140,000 after buying an additional 13,305 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock valued at $104,000 after buying an additional 4,203 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Newpark Resources by 31.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 687,218 shares of the company’s stock valued at $3,979,000 after buying an additional 164,374 shares during the period. Finally, Numeric Investors LLC raised its position in shares of Newpark Resources by 11.0% in the second quarter. Numeric Investors LLC now owns 226,633 shares of the company’s stock valued at $1,312,000 after buying an additional 22,433 shares during the period. 98.74% of the stock is currently owned by institutional investors.
Newpark Resources Company Profile
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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