Newpark Resources, Inc. to Post Q3 2024 Earnings of $0.07 Per Share, Roth Capital Forecasts (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Equities research analysts at Roth Capital dropped their Q3 2024 earnings estimates for Newpark Resources in a report issued on Friday, August 9th. Roth Capital analyst G. Sweeney now anticipates that the oil and gas company will earn $0.07 per share for the quarter, down from their prior estimate of $0.08. The consensus estimate for Newpark Resources’ current full-year earnings is $0.35 per share. Roth Capital also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.09 EPS.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. The company had revenue of $179.01 million during the quarter, compared to analyst estimates of $171.04 million. During the same period in the prior year, the firm posted $0.08 EPS.

A number of other equities research analysts have also recently commented on NR. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. B. Riley lifted their target price on Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Newpark Resources presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

Shares of NYSE NR opened at $7.66 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. Newpark Resources has a 1 year low of $5.08 and a 1 year high of $8.65. The firm has a fifty day moving average price of $7.95 and a 200-day moving average price of $7.39. The stock has a market cap of $652.22 million, a PE ratio of 41.39 and a beta of 2.89.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds have recently made changes to their positions in the company. CWM LLC lifted its position in Newpark Resources by 495.4% during the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 3,775 shares during the last quarter. GAMMA Investing LLC purchased a new position in Newpark Resources in the fourth quarter worth about $49,000. New York State Teachers Retirement System bought a new stake in Newpark Resources during the first quarter worth approximately $50,000. Fortitude Family Office LLC raised its position in Newpark Resources by 179.1% during the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 4,751 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Newpark Resources in the 4th quarter valued at approximately $59,000. 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.