What is B. Riley's Forecast for NR FY2024 Earnings?

Newpark Resources, Inc. (NYSE:NR - Free Report) - Research analysts at B. Riley issued their FY2024 earnings estimates for Newpark Resources in a research report issued on Monday, November 11th. B. Riley analyst A. Rygiel forecasts that the oil and gas company will post earnings of $0.23 per share for the year. The consensus estimate for Newpark Resources' current full-year earnings is $0.36 per share.

A number of other research firms have also weighed in on NR. StockNews.com lowered Newpark Resources from a "buy" rating to a "hold" rating in a research note on Monday, September 23rd. HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Newpark Resources Stock Performance

Newpark Resources stock traded down $0.23 during trading hours on Thursday, hitting $7.05. 258,210 shares of the stock traded hands, compared to its average volume of 662,655. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65. The stock has a market capitalization of $609.61 million, a price-to-earnings ratio of -3.90 and a beta of 2.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The firm's 50 day moving average price is $7.08 and its 200-day moving average price is $7.59.

Institutional Investors Weigh In On Newpark Resources

Large investors have recently bought and sold shares of the company. CWM LLC increased its stake in Newpark Resources by 114.5% during the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company's stock worth $81,000 after buying an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Newpark Resources during the 1st quarter worth approximately $86,000. Ground Swell Capital LLC acquired a new position in shares of Newpark Resources during the 2nd quarter worth approximately $91,000. Captrust Financial Advisors boosted its holdings in shares of Newpark Resources by 10.8% during the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company's stock worth $101,000 after purchasing an additional 1,430 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Newpark Resources during the 3rd quarter worth approximately $116,000. 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.