Newpark Resources, Inc. Forecasted to Earn Q3 2024 Earnings of $0.07 Per Share (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR - Free Report) - Analysts at B. Riley issued their Q3 2024 earnings per share (EPS) estimates for shares of Newpark Resources in a research note issued to investors on Wednesday, October 9th. B. Riley analyst A. Rygiel expects that the oil and gas company will earn $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.

A number of other equities research analysts also recently commented on NR. StockNews.com downgraded Newpark Resources from a "buy" rating to a "hold" rating in a research report on Monday, September 23rd. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of Newpark Resources in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Newpark Resources Stock Performance

NR stock traded up $0.15 during trading on Friday, hitting $7.20. 197,684 shares of the company traded hands, compared to its average volume of 670,041. The stock's 50-day simple moving average is $7.49 and its 200 day simple moving average is $7.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The company has a market cap of $622.58 million, a PE ratio of 28.20 and a beta of 2.86. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65.

Newpark Resources (NYSE:NR - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The company had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. During the same quarter last year, the company earned $0.08 earnings per share.

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds have recently modified their holdings of the stock. Ancora Advisors LLC increased its holdings in shares of Newpark Resources by 182.5% during the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company's stock worth $4,678,000 after buying an additional 418,570 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Newpark Resources during the 4th quarter worth about $2,567,000. Russell Investments Group Ltd. grew its stake in Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company's stock valued at $3,729,000 after buying an additional 349,935 shares during the last quarter. American Century Companies Inc. grew its stake in Newpark Resources by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company's stock valued at $15,720,000 after buying an additional 313,451 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Newpark Resources by 161.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company's stock valued at $2,327,000 after purchasing an additional 199,066 shares during the period. 80.81% of the stock is 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.