Newpark Resources, Inc. (NR) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Newpark Resources, Inc. (NYSE:NR) posted its earnings results on Monday. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01), Bloomberg Earnings reports. Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. The firm had revenue of $201.70 million during the quarter, compared to analyst estimates of $192.57 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 92.8% on a year-over-year basis.
Newpark Resources (NR) traded down 0.57% during trading on Wednesday, hitting $8.70. 76,403 shares of the company traded hands. Newpark Resources has a 52-week low of $5.80 and a 52-week high of $10.20. The company’s 50-day moving average is $9.57 and its 200 day moving average is $8.16. The firm’s market cap is $744.79 million.
Several research firms recently issued reports on NR. Cowen and Company set a $9.00 target price on shares of Newpark Resources and gave the company a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, October 24th. Finally, BidaskClub upgraded shares of Newpark Resources from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $9.80.
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About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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