Brokers Offer Predictions for Newpark Resources, Inc.’s Q2 2024 Earnings (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Stock analysts at B. Riley boosted their Q2 2024 earnings per share (EPS) estimates for Newpark Resources in a research report issued on Monday, May 6th. B. Riley analyst A. Rygiel now anticipates that the oil and gas company will post earnings per share of $0.08 for the quarter, up from their prior estimate of $0.07. B. Riley has a “Buy” rating and a $11.00 price objective 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.

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

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

Newpark Resources Stock Performance

Shares of NR stock opened at $7.37 on Tuesday. The company’s fifty day simple moving average is $7.19 and its 200-day simple moving average is $6.86. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. Newpark Resources has a 52 week low of $3.40 and a 52 week high of $7.84. The company has a market cap of $627.92 million, a PE ratio of 40.95 and a beta of 2.78.

Institutional Investors Weigh In On Newpark Resources

Several large investors have recently modified their holdings of NR. Wellington Management Group LLP boosted its stake in Newpark Resources by 20.5% in 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. grew its holdings in shares of Newpark Resources by 53.8% during the fourth 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 buying an additional 212,872 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Newpark Resources during the 4th quarter valued at about $450,000. Vanguard Group Inc. grew its position in Newpark Resources by 4.0% during the third quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock valued at $28,932,000 after purchasing an additional 162,941 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Newpark Resources in the 3rd quarter valued at approximately $1,294,000. 80.81% of the stock is owned by institutional investors.

About Newpark Resources

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.