Q2 2024 EPS Estimates for Newpark Resources, Inc. Lifted by Analyst (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Analysts at B. Riley raised their Q2 2024 earnings per share (EPS) estimates for Newpark Resources in a report issued on Monday, May 6th. B. Riley analyst A. Rygiel now expects that the oil and gas company will post earnings of $0.08 per share for the quarter, up from their previous estimate of $0.07. B. Riley has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. B. Riley also issued estimates for Newpark Resources’ FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Roth Mkm started coverage on Newpark Resources in a research report on Friday, March 8th. They issued a “buy” rating and a $10.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday. Finally, Roth Capital restated a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

Shares of NR stock opened at $7.35 on Tuesday. Newpark Resources has a fifty-two week low of $3.40 and a fifty-two week high of $7.84. The stock’s 50-day moving average is $7.21 and its two-hundred day moving average is $6.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. The firm has a market cap of $625.79 million, a P/E ratio of 40.81 and a beta of 2.78.

Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $167.82 million during the quarter, compared to analyst estimates of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%.

Institutional Trading of Newpark Resources

Several hedge funds have recently added to or reduced their stakes in NR. Wellington Management Group LLP increased its holdings in shares of Newpark Resources by 20.5% during the 3rd quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock worth $6,048,000 after purchasing an additional 148,700 shares during the period. Assenagon Asset Management S.A. raised its holdings in Newpark Resources by 53.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 608,342 shares of the oil and gas company’s stock valued at $4,039,000 after acquiring an additional 212,872 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Newpark Resources in the 4th quarter valued at approximately $450,000. Vanguard Group Inc. lifted its position in shares of Newpark Resources by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock worth $28,932,000 after acquiring an additional 162,941 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Newpark Resources during the 3rd quarter worth approximately $1,294,000. Institutional investors own 80.81% of the company’s stock.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.