NCS Multistage (NASDAQ:NCSM) Downgraded by Piper Jaffray Companies to “Neutral”

Piper Jaffray Companies cut shares of NCS Multistage (NASDAQ:NCSM) from an overweight rating to a neutral rating in a research note published on Tuesday, June 25th, Benzinga reports. The firm currently has $3.80 price objective on the stock. Piper Jaffray Companies also issued estimates for NCS Multistage’s Q3 2019 earnings at $0.03 EPS, Q4 2019 earnings at ($0.01) EPS, Q1 2020 earnings at $0.06 EPS, Q2 2020 earnings at ($0.07) EPS, Q3 2020 earnings at $0.13 EPS, Q4 2020 earnings at $0.05 EPS and FY2020 earnings at $0.16 EPS.

Several other equities research analysts have also recently weighed in on NCSM. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Citigroup cut their target price on shares of Extraction Oil & Gas from $8.00 to $7.00 and set a buy rating on the stock in a research note on Tuesday, March 12th. BidaskClub raised shares of Wave Life Sciences from a hold rating to a buy rating in a research note on Thursday, February 28th. Finally, Zacks Investment Research lowered shares of CGI from a buy rating to a hold rating in a research note on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $11.86.

NASDAQ NCSM traded up $0.07 on Tuesday, hitting $2.97. The company’s stock had a trading volume of 56,500 shares, compared to its average volume of 105,347. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.72 and a current ratio of 5.44. NCS Multistage has a 1-year low of $2.46 and a 1-year high of $17.63. The stock’s 50-day simple moving average is $3.08. The company has a market capitalization of $135.34 million, a price-to-earnings ratio of 14.85 and a beta of 2.55.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). NCS Multistage had a negative net margin of 101.98% and a negative return on equity of 1.11%. The firm had revenue of $52.85 million during the quarter, compared to analysts’ expectations of $54.65 million. As a group, research analysts expect that NCS Multistage will post -0.24 earnings per share for the current fiscal year.

In related news, CFO Ryan Hummer acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $2.63 per share, for a total transaction of $131,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Franklin Myers acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $2.57 per share, with a total value of $102,800.00. The disclosure for this purchase can be found here. Insiders have purchased 140,000 shares of company stock worth $364,800 over the last three months. 11.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. bought a new stake in NCS Multistage during the fourth quarter valued at approximately $4,264,000. BlackRock Inc. lifted its holdings in shares of NCS Multistage by 3.2% in the 4th quarter. BlackRock Inc. now owns 533,748 shares of the company’s stock worth $2,716,000 after acquiring an additional 16,636 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of NCS Multistage by 5.6% in the 1st quarter. Foundry Partners LLC now owns 386,113 shares of the company’s stock worth $2,000,000 after acquiring an additional 20,525 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NCS Multistage by 51.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 288,572 shares of the company’s stock worth $1,469,000 after acquiring an additional 97,755 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of NCS Multistage by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 177,676 shares of the company’s stock worth $904,000 after acquiring an additional 13,415 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States, Canada, and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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Analyst Recommendations for NCS Multistage (NASDAQ:NCSM)

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