Analysts Issue Forecasts for Newpark Resources, Inc.’s Q3 2024 Earnings (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Stock analysts at HC Wainwright reduced their Q3 2024 EPS estimates for Newpark Resources in a research note issued on Thursday, September 19th. HC Wainwright analyst A. Dayal now anticipates that the oil and gas company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.08. 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 $0.36 per share. HC Wainwright also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS and FY2026 earnings at $0.44 EPS.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The company had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. During the same period in the previous year, the firm posted $0.08 EPS.

Separately, StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.00.

Newpark Resources Trading Down 0.4 %

Shares of NR stock opened at $7.47 on Friday. The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $636.46 million, a price-to-earnings ratio of 41.50 and a beta of 2.87. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65. The stock’s 50-day moving average price is $7.79 and its 200-day moving average price is $7.66.

Institutional Investors Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of Newpark Resources in the fourth quarter valued at $2,567,000. Janney Montgomery Scott LLC purchased a new stake in Newpark Resources in the 1st quarter worth about $859,000. Jacobs Levy Equity Management Inc. lifted its stake in Newpark Resources by 67.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock worth $2,368,000 after purchasing an additional 131,609 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Newpark Resources during the second quarter valued at approximately $538,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Newpark Resources by 44.2% during the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock valued at $3,672,000 after buying an additional 135,427 shares during the last quarter. 80.81% of the stock is currently owned by hedge funds and other 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.