Q2 2024 EPS Estimates for Newpark Resources, Inc. Raised by B. Riley (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – B. Riley upped their Q2 2024 earnings per share (EPS) estimates for shares of Newpark Resources in a research note issued on Monday, May 6th. B. Riley analyst A. Rygiel now expects that the oil and gas company will post earnings per share of $0.08 for the quarter, up from their previous forecast of $0.07. B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. B. Riley also issued estimates for Newpark Resources’ FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

Several other research firms have also issued reports on NR. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a report on Monday. Roth Mkm initiated coverage on Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 price target for the company. Finally, StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $11.00.

Newpark Resources Trading Down 0.3 %

NYSE NR opened at $7.35 on Tuesday. Newpark Resources has a 12 month low of $3.40 and a 12 month high of $7.84. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $7.21 and a 200-day moving average of $6.87. The company has a market cap of $625.79 million, a PE ratio of 40.81 and a beta of 2.78.

Newpark Resources (NYSE:NR) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $170.87 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC lifted its holdings in shares of Newpark Resources by 8.1% during 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 in the last quarter. Riverwater Partners LLC raised its stake in Newpark Resources by 4.4% in the 1st quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 3,140 shares in the last quarter. Kure Advisory LLC boosted its holdings in Newpark Resources by 20.0% in the 4th quarter. Kure Advisory LLC now owns 20,204 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 3,363 shares during the period. CWM LLC grew its position in shares of Newpark Resources by 495.4% during the 1st 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. Finally, Bank of New York Mellon Corp increased its holdings in shares of Newpark Resources by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 317,935 shares of the oil and gas company’s stock worth $2,197,000 after purchasing an additional 4,105 shares during the period. 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.