-$1.18 EPS Expected for Key Energy Services (KEG) This Quarter

Brokerages expect that Key Energy Services (NYSE:KEG) will post earnings of ($1.18) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Key Energy Services’ earnings, with estimates ranging from ($1.45) to ($0.79). Key Energy Services reported earnings per share of ($1.97) during the same quarter last year, which suggests a positive year over year growth rate of 40.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Key Energy Services will report full year earnings of ($3.07) per share for the current financial year, with EPS estimates ranging from ($3.68) to ($1.85). For the next year, analysts anticipate that the business will post earnings of ($0.69) per share, with EPS estimates ranging from ($1.40) to ($0.36). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Key Energy Services.

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Key Energy Services (NYSE:KEG) last posted its earnings results on Monday, February 26th. The oil and gas company reported ($1.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.33) by ($0.01). The business had revenue of $116.28 million for the quarter, compared to analysts’ expectations of $112.90 million.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Key Energy Services from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Deutsche Bank assumed coverage on shares of Key Energy Services in a research report on Friday, March 16th. They set a “hold” rating and a $17.00 target price on the stock. Piper Jaffray set a $17.00 target price on shares of Key Energy Services and gave the stock a “buy” rating in a research report on Sunday, April 1st. ValuEngine upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Seaport Global Securities upgraded shares of Key Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.00.

Several hedge funds have recently modified their holdings of KEG. Fine Capital Partners L.P. increased its stake in shares of Key Energy Services by 59.5% during the 3rd quarter. Fine Capital Partners L.P. now owns 1,004,038 shares of the oil and gas company’s stock worth $13,223,000 after purchasing an additional 374,492 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Key Energy Services by 325.0% in the 4th quarter. Bank of New York Mellon Corp now owns 169,625 shares of the oil and gas company’s stock valued at $2,000,000 after buying an additional 129,711 shares in the last quarter. State Street Corp purchased a new position in Key Energy Services in the 2nd quarter valued at approximately $2,174,000. Northern Trust Corp purchased a new position in Key Energy Services in the 2nd quarter valued at approximately $1,723,000. Finally, Wells Fargo & Company MN grew its stake in Key Energy Services by 123,110.9% in the 3rd quarter. Wells Fargo & Company MN now owns 67,766 shares of the oil and gas company’s stock valued at $892,000 after buying an additional 67,711 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Shares of Key Energy Services stock traded up $0.11 during mid-day trading on Monday, hitting $12.00. 189,196 shares of the stock were exchanged, compared to its average volume of 123,458. Key Energy Services has a 12 month low of $8.20 and a 12 month high of $25.63. The stock has a market cap of $240.39, a P/E ratio of -1.91 and a beta of 2.80.

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About Key Energy Services

Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.

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Earnings History and Estimates for Key Energy Services (NYSE:KEG)

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