National Energy Services Reunited (NASDAQ:NESR) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

National Energy Services Reunited (NASDAQ:NESR) issued its quarterly earnings results on Monday. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02, FiscalAI reports. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The firm had revenue of $504.73 million during the quarter, compared to analyst estimates of $495.93 million.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $19.96 on Monday. National Energy Services Reunited has a one year low of $12.21 and a one year high of $36.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 0.23 and a beta of 0.57. The company’s 50-day simple moving average is $26.56 and its two-hundred day simple moving average is $25.55.

Insider Activity

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the transaction, the director directly owned 696,398 shares in the company, valued at approximately $24,687,309.10. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares in the company, valued at approximately $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 176,894 shares of company stock worth $6,221,414. Corporate insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NESR. Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. BTIG Research increased their target price on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Capital One Financial initiated coverage on National Energy Services Reunited in a research report on Wednesday, September 30th. They set an “overweight” rating and a $44.00 target price for the company. UBS Group lowered their target price on shares of National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. Finally, BMO Capital Markets started coverage on shares of National Energy Services Reunited in a report on Thursday, October 1st. They issued an “outperform” rating and a $39.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells.

The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.

Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.