Equities Analysts Issue Forecasts for Newpark Resources, Inc.’s Q3 2024 Earnings (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Equities researchers at B. Riley issued their Q3 2024 earnings per share estimates for Newpark Resources in a research note issued on Wednesday, October 9th. B. Riley analyst A. Rygiel forecasts that the oil and gas company will post earnings of $0.07 per share for the quarter. The consensus estimate for Newpark Resources’ current full-year earnings is $0.32 per share. B. Riley also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.08 EPS and FY2025 earnings at $0.36 EPS.

Several other analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Thursday, September 19th. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Price Performance

Shares of NYSE:NR opened at $7.05 on Friday. The business has a 50 day moving average price of $7.49 and a 200 day moving average price of $7.65. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65. The company has a market cap of $609.61 million, a price-to-earnings ratio of 28.20 and a beta of 2.86. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09.

Newpark Resources (NYSE:NR) last released its quarterly 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. The company had revenue of $179.01 million during the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter in the prior year, the company posted $0.08 EPS.

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in Newpark Resources during the 4th quarter worth approximately $2,567,000. Janney Montgomery Scott LLC bought a new position in shares of Newpark Resources in the first quarter worth $859,000. Jacobs Levy Equity Management Inc. increased its stake in Newpark Resources by 67.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock valued at $2,368,000 after acquiring an additional 131,609 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Newpark Resources in the second quarter valued at $538,000. Finally, Panagora Asset Management Inc. grew its position in Newpark Resources by 44.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock worth $3,672,000 after acquiring an additional 135,427 shares during the last quarter. Institutional investors own 80.81% of the company’s stock.

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.