Newpark Resources Inc (NR) Expected to Post Quarterly Sales of $233.81 Million

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Analysts expect Newpark Resources Inc (NYSE:NR) to announce $233.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Newpark Resources’ earnings, with the highest sales estimate coming in at $253.43 million and the lowest estimate coming in at $220.00 million. Newpark Resources reported sales of $227.29 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that Newpark Resources will report full-year sales of $983.96 million for the current financial year, with estimates ranging from $947.00 million to $1.05 billion. For the next financial year, analysts expect that the firm will report sales of $1.12 billion, with estimates ranging from $1.09 billion to $1.16 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Newpark Resources.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. Newpark Resources had a net margin of 3.41% and a return on equity of 6.85%. The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $242.61 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis.

A number of brokerages recently commented on NR. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. TheStreet raised shares of Newpark Resources from a “c” rating to a “b” rating in a research report on Friday, February 8th. SunTrust Banks set a $13.00 target price on shares of Newpark Resources and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, ValuEngine raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $12.00.

In other news, insider Paul L. Howes sold 106,487 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $9.50, for a total value of $1,011,626.50. Following the completion of the sale, the insider now directly owns 621,820 shares in the company, valued at $5,907,290. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul L. Howes sold 200,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.21, for a total transaction of $1,842,000.00. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of NR. Advisor Group Inc. raised its stake in Newpark Resources by 233.0% during the 4th quarter. Advisor Group Inc. now owns 4,182 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 2,926 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Newpark Resources during the 4th quarter valued at $35,000. Menta Capital LLC acquired a new position in Newpark Resources during the 4th quarter valued at $107,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Newpark Resources by 327.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 31,487 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 24,114 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Newpark Resources by 187.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 38,556 shares of the oil and gas company’s stock valued at $265,000 after buying an additional 25,129 shares in the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.

Shares of NR opened at $9.01 on Tuesday. Newpark Resources has a 52 week low of $6.39 and a 52 week high of $11.65. The company has a market cap of $825.31 million, a P/E ratio of 21.98 and a beta of 1.70. The company has a current ratio of 3.69, a quick ratio of 2.30 and a debt-to-equity ratio of 0.28.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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