Newpark Resources, Inc. Expected to Post Q2 2024 Earnings of $0.08 Per Share (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Equities researchers at B. Riley lifted their Q2 2024 earnings per share estimates for shares of Newpark Resources in a note issued to investors on Monday, May 6th. B. Riley analyst A. Rygiel now anticipates that the oil and gas company will earn $0.08 per share for the quarter, up from their prior forecast of $0.07. B. Riley currently has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.30 per share. B. Riley also issued estimates for Newpark Resources’ FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

Other analysts also recently issued research reports about the stock. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Roth Mkm assumed coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a report on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Newpark Resources presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Newpark Resources Price Performance

Shares of NYSE NR opened at $7.37 on Tuesday. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $7.19 and its 200 day moving average price is $6.86. Newpark Resources has a 52 week low of $3.40 and a 52 week high of $7.84. The stock has a market cap of $627.92 million, a price-to-earnings ratio of 40.95 and a beta of 2.78.

Newpark Resources (NYSE:NR) last posted its earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $167.82 million during the quarter, compared to analyst estimates of $170.87 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in Newpark Resources by 20.5% during the third quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock worth $6,048,000 after acquiring an additional 148,700 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Newpark Resources by 53.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 608,342 shares of the oil and gas company’s stock valued at $4,039,000 after purchasing an additional 212,872 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Newpark Resources during the 4th quarter worth approximately $450,000. Vanguard Group Inc. increased its position in Newpark Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock worth $28,932,000 after purchasing an additional 162,941 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Newpark Resources during the third quarter valued at approximately $1,294,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

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.