Newpark Resources, Inc. (NYSE:NR) to Post Q2 2024 Earnings of $0.07 Per Share, Roth Capital Forecasts

Newpark Resources, Inc. (NYSE:NR) – Research analysts at Roth Capital cut their Q2 2024 EPS estimates for shares of Newpark Resources in a note issued to investors on Tuesday, May 7th. Roth Capital analyst G. Sweeney now anticipates that the oil and gas company will earn $0.07 per share for the quarter, down from their previous forecast of $0.08. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. Roth Capital also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $0.34 EPS and FY2025 earnings at $0.43 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 analysts’ consensus estimates of $0.07 by ($0.03). Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. The company had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million.

A number of other equities analysts also recently issued reports on the company. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Roth Mkm initiated coverage on shares of Newpark Resources in a report on Friday, March 8th. They issued a “buy” rating and a $10.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a report on Monday. Finally, B. Riley upped their price target on Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $11.00.

Newpark Resources Stock Down 0.3 %

Shares of NYSE:NR opened at $7.35 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79. Newpark Resources has a 52-week low of $3.40 and a 52-week high of $7.84. The firm has a market capitalization of $625.79 million, a P/E ratio of 40.81 and a beta of 2.78. The stock has a 50 day moving average price of $7.21 and a 200-day moving average price of $6.87.

Institutional Trading of Newpark Resources

A number of institutional investors have recently made changes to their positions in the stock. Bleakley Financial Group LLC raised its stake in shares of Newpark Resources by 8.1% in the first quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock worth $155,000 after buying an additional 1,604 shares during the period. Russell Investments Group Ltd. lifted its holdings in Newpark Resources by 210.2% during the first quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after purchasing an additional 349,935 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Newpark Resources in the first quarter worth approximately $86,000. Catalina Capital Group LLC purchased a new stake in shares of Newpark Resources in the first quarter worth $93,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Newpark Resources during the 1st quarter valued at $859,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.