Newpark Resources Inc. (NR) Shares Up 3%
Shares of Newpark Resources Inc. (NYSE:NR) shot up 3% during mid-day trading on Friday . The stock traded as high as $7.25 and last traded at $7.21, with a volume of 200,048 shares traded. The stock had previously closed at $7.00.
Several brokerages recently issued reports on NR. Credit Suisse Group AG upgraded Newpark Resources from a “neutral” rating to an “outperform” rating and set a $6.00 price objective for the company in a report on Wednesday, June 1st. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Wednesday, July 6th. Leerink Swann reiterated a “buy” rating and set a $108.00 price objective on shares of Newpark Resources in a report on Thursday, August 25th. Finally, Capital One Financial Corp. upgraded Newpark Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $5.00 to $6.00 in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.14.
The firm’s market cap is $606.85 million. The company has a 50-day moving average of $6.63 and a 200-day moving average of $5.20.
Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.09. The firm earned $115.30 million during the quarter, compared to the consensus estimate of $106.93 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, analysts anticipate that Newpark Resources Inc. will post ($0.43) EPS for the current fiscal year.
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.