Newpark Resources Inc. (NR) Shares Up 3%
Newpark Resources Inc. (NYSE:NR)’s share price shot up 3% during trading on Friday . The company traded as high as $7.25 and last traded at $7.21, with a volume of 200,048 shares. The stock had previously closed at $7.00.
A number of brokerages have recently commented on NR. Credit Suisse Group AG set a $7.00 price target on shares of Newpark Resources and gave the stock a “buy” rating in a report on Monday, August 1st. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Wednesday, July 6th. Capital One Financial Corp. raised shares of Newpark Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $5.00 to $6.00 in a report on Wednesday, June 15th. Finally, Leerink Swann reissued a “buy” rating and issued a $108.00 price target on shares of Newpark Resources in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.14.
The firm’s market cap is $606.85 million. The company’s 50-day moving average is $6.67 and its 200-day moving average is $5.22.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. The firm had revenue of $115.30 million for the quarter, compared to analysts’ expectations of $106.93 million. During the same period in the prior year, the firm earned ($0.03) EPS. Newpark Resources’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, equities research analysts forecast that Newpark Resources Inc. will post ($0.43) earnings per share for the current 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.
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