National Energy Services Reunited Corp (NASDAQ:NESR) Receives Consensus Recommendation of “Buy” from Analysts

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Shares of National Energy Services Reunited Corp (NASDAQ:NESR) have earned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.50.

Separately, Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NESR. Deutsche Bank AG purchased a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $34,000. BlackRock Inc. bought a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $60,000. Geode Capital Management LLC bought a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $136,000. Crown Advisors Management Inc. bought a new position in shares of National Energy Services Reunited in the 1st quarter worth approximately $219,000. Finally, Marshall Wace LLP bought a new position in shares of National Energy Services Reunited in the 1st quarter worth approximately $657,000. Institutional investors and hedge funds own 16.74% of the company’s stock.

NESR stock traded up $0.04 during mid-day trading on Thursday, reaching $8.12. The company had a trading volume of 169,900 shares, compared to its average volume of 146,806. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.11. The company has a fifty day moving average of $8.49. National Energy Services Reunited has a fifty-two week low of $7.42 and a fifty-two week high of $14.38.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The company had revenue of $151.70 million during the quarter, compared to analyst estimates of $148.37 million. National Energy Services Reunited had a net margin of 9.65% and a return on equity of 10.65%. On average, analysts expect that National Energy Services Reunited will post 0.96 EPS for the current year.

About National Energy Services Reunited

National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.

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Analyst Recommendations for National Energy Services Reunited (NASDAQ:NESR)

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