Q2 2024 Earnings Forecast for Newpark Resources, Inc. (NYSE:NR) Issued By HC Wainwright

Newpark Resources, Inc. (NYSE:NR) – Analysts at HC Wainwright increased their Q2 2024 EPS estimates for Newpark Resources in a research report issued to clients and investors on Monday, May 6th. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will post earnings per share of $0.09 for the quarter, up from their prior estimate of $0.05. HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.36 EPS.

Several other research analysts have also weighed in on NR. B. Riley lifted their price objective on shares of Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Roth Capital reissued a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Finally, Roth Mkm initiated coverage on shares of Newpark Resources in a research report on Friday, March 8th. They issued a “buy” rating and a $10.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $11.00.

Newpark Resources Price Performance

Shares of NR opened at $7.65 on Wednesday. The stock has a market cap of $651.35 million, a P/E ratio of 42.47 and a beta of 2.78. Newpark Resources has a 1 year low of $3.40 and a 1 year high of $7.84. The stock’s 50-day moving average price is $7.23 and its two-hundred day moving average price is $6.87. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14.

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 (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $167.82 million during the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in Newpark Resources in the 4th quarter valued at approximately $2,567,000. Russell Investments Group Ltd. lifted its position in shares of Newpark Resources by 210.2% in the first quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares in the last quarter. 1492 Capital Management LLC acquired a new position in Newpark Resources during the fourth quarter worth $2,193,000. Dimensional Fund Advisors LP boosted its holdings in Newpark Resources by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after purchasing an additional 303,236 shares during the last quarter. Finally, Yarra Square Partners LP grew its position in Newpark Resources by 48.5% in the fourth quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock valued at $5,406,000 after purchasing an additional 266,000 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.