FY2019 EPS Estimates for Keane Group Inc (NYSE:FRAC) Cut by Analyst

Keane Group Inc (NYSE:FRAC) – Stock analysts at Capital One Financial cut their FY2019 earnings per share (EPS) estimates for shares of Keane Group in a research report issued to clients and investors on Tuesday, July 30th, Zacks Investment Research reports. Capital One Financial analyst L. Lemoine now forecasts that the company will post earnings per share of ($0.40) for the year, down from their prior estimate of ($0.37). Capital One Financial also issued estimates for Keane Group’s Q4 2019 earnings at ($0.13) EPS and FY2020 earnings at ($0.42) EPS.

A number of other brokerages also recently issued reports on FRAC. ValuEngine upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet cut shares of Keane Group from a “c-” rating to a “d+” rating in a report on Monday, June 3rd. AltaCorp Capital reissued a “sector perform” rating on shares of Keane Group in a report on Thursday, June 20th. Finally, Zacks Investment Research cut shares of Keane Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $15.77.

Keane Group stock traded down $0.23 during trading on Thursday, reaching $4.97. The stock had a trading volume of 809,890 shares, compared to its average volume of 2,002,456. Keane Group has a 52-week low of $4.86 and a 52-week high of $13.91. The business has a 50 day moving average price of $5.80 and a 200 day moving average price of $8.70. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.79. The stock has a market cap of $545.92 million, a PE ratio of 5.40 and a beta of 1.29.

Keane Group (NYSE:FRAC) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Keane Group had a net margin of 0.53% and a return on equity of 7.21%. The company had revenue of $427.70 million during the quarter, compared to the consensus estimate of $413.63 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was down 26.1% on a year-over-year basis.

A number of hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new position in shares of Keane Group in the 2nd quarter valued at $11,208,000. Dimensional Fund Advisors LP increased its holdings in shares of Keane Group by 42.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,806,540 shares of the company’s stock valued at $22,957,000 after acquiring an additional 836,326 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Keane Group by 368.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,019,161 shares of the company’s stock valued at $6,849,000 after acquiring an additional 801,604 shares during the period. Anchor Bolt Capital LP increased its holdings in shares of Keane Group by 280.7% in the 2nd quarter. Anchor Bolt Capital LP now owns 1,011,437 shares of the company’s stock valued at $6,797,000 after acquiring an additional 745,756 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Keane Group by 1,193.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,300 shares of the company’s stock valued at $3,006,000 after acquiring an additional 412,717 shares during the period. 89.41% of the stock is currently owned by institutional investors.

Keane Group Company Profile

Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.

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