FY2024 EPS Forecast for Nine Energy Service Cut by Analyst

Nine Energy Service, Inc. (NYSE:NINE - Free Report) - Atb Cap Markets lowered their FY2024 EPS estimates for Nine Energy Service in a research note issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings per share of ($1.12) for the year, down from their previous estimate of ($1.10). The consensus estimate for Nine Energy Service's current full-year earnings is ($1.10) per share. Atb Cap Markets also issued estimates for Nine Energy Service's Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.75) EPS, Q1 2026 earnings at ($0.17) EPS, Q2 2026 earnings at ($0.15) EPS, Q3 2026 earnings at ($0.12) EPS and FY2026 earnings at ($0.57) EPS.

Nine Energy Service Stock Down 2.2 %

NINE stock traded down $0.02 during midday trading on Friday, reaching $1.12. 882,603 shares of the company's stock traded hands, compared to its average volume of 693,994. The company has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.38. Nine Energy Service has a 1-year low of $0.75 and a 1-year high of $3.26. The company has a market cap of $47.24 million, a price-to-earnings ratio of -0.93 and a beta of 3.50.

Institutional Investors Weigh In On Nine Energy Service

Several large investors have recently modified their holdings of NINE. XTX Topco Ltd acquired a new position in Nine Energy Service in the 2nd quarter worth $32,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nine Energy Service during the 2nd quarter worth approximately $31,000. Jaffetilchin Investment Partners LLC raised its holdings in shares of Nine Energy Service by 89.8% in the second quarter. Jaffetilchin Investment Partners LLC now owns 113,424 shares of the company's stock valued at $191,000 after purchasing an additional 53,657 shares during the last quarter. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of Nine Energy Service in the second quarter worth $34,000. 57.61% of the stock is currently owned by institutional investors.

Insider Activity at Nine Energy Service

In related news, major shareholder William Monroe acquired 435,000 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average price of $1.19 per share, for a total transaction of $517,650.00. Following the completion of the acquisition, the insider now owns 4,335,000 shares of the company's stock, valued at $5,158,650. This trade represents a 11.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ann G. Fox sold 60,358 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $1.00, for a total value of $60,358.00. Following the transaction, the insider now owns 697,935 shares of the company's stock, valued at $697,935. The trade was a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.

About Nine Energy Service

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.