Newpark Resources, Inc. (NYSE:NR) to Post Q2 2024 Earnings of $0.09 Per Share, HC Wainwright Forecasts

Newpark Resources, Inc. (NYSE:NR) – Analysts at HC Wainwright boosted their Q2 2024 earnings estimates for Newpark Resources in a research note issued to investors on Monday, May 6th. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will post earnings of $0.09 per share for the quarter, up from their previous estimate of $0.05. HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.36 EPS.

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

A number of other brokerages have also weighed in on NR. Roth Mkm started coverage on shares of Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 price objective on the stock. B. Riley increased their price objective on Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Finally, StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.00.

Newpark Resources Stock Up 2.9 %

NYSE:NR opened at $7.37 on Wednesday. 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 twelve month low of $3.40 and a twelve month 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. The company’s 50 day moving average is $7.19 and its two-hundred day moving average is $6.86.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in Newpark Resources by 495.4% during the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares in the last quarter. Dorsey Wright & Associates purchased a new position in shares of Newpark Resources during the 3rd quarter valued at approximately $32,000. New York State Teachers Retirement System acquired a new stake in Newpark Resources in the 1st quarter valued at $50,000. Fortitude Family Office LLC increased its holdings in Newpark Resources by 179.1% in the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 4,751 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Newpark Resources during the fourth quarter worth $49,000. Institutional investors and hedge funds 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.