National Energy Services Reunited Corp (NASDAQ:NESR) Expected to Announce Quarterly Sales of $192.46 Million

Analysts predict that National Energy Services Reunited Corp (NASDAQ:NESR) will report $192.46 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for National Energy Services Reunited’s earnings, with the highest sales estimate coming in at $194.60 million and the lowest estimate coming in at $190.31 million. National Energy Services Reunited posted sales of $159.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.4%. The business is expected to issue its next quarterly earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that National Energy Services Reunited will report full year sales of $781.01 million for the current year, with estimates ranging from $779.71 million to $782.30 million. For the next fiscal year, analysts anticipate that the business will post sales of $896.29 million, with estimates ranging from $889.70 million to $902.87 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow National Energy Services Reunited.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. The company had revenue of $199.30 million for the quarter, compared to the consensus estimate of $181.71 million. National Energy Services Reunited had a net margin of 5.32% and a return on equity of 7.31%.

Several equities analysts have recently issued reports on the stock. TheStreet raised shares of National Energy Services Reunited from a “d” rating to a “c-” rating in a research note on Tuesday, June 2nd. National Bank Financial reissued an “outperform overweight” rating on shares of National Energy Services Reunited in a research report on Monday, July 20th. Finally, Zacks Investment Research downgraded shares of National Energy Services Reunited from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a sell rating and two have assigned a buy rating to the company. National Energy Services Reunited presently has a consensus rating of “Hold” and a consensus price target of $16.00.

NASDAQ:NESR traded up $0.24 during mid-day trading on Tuesday, hitting $6.69. The stock had a trading volume of 148,136 shares, compared to its average volume of 170,142. National Energy Services Reunited has a 52 week low of $4.04 and a 52 week high of $9.53. The stock has a market capitalization of $583.28 million, a price-to-earnings ratio of 15.56 and a beta of 0.85. The company has a 50 day simple moving average of $6.37 and a 200-day simple moving average of $6.26. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.36.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of National Energy Services Reunited by 22.1% in the first quarter. FMR LLC now owns 1,358,969 shares of the company’s stock worth $14,202,000 after acquiring an additional 246,130 shares in the last quarter. BlackRock Inc. increased its position in shares of National Energy Services Reunited by 2.2% in the first quarter. BlackRock Inc. now owns 1,206,734 shares of the company’s stock worth $6,129,000 after acquiring an additional 26,307 shares in the last quarter. Crystal Rock Capital Management boosted its holdings in shares of National Energy Services Reunited by 1.5% during the first quarter. Crystal Rock Capital Management now owns 515,520 shares of the company’s stock worth $2,619,000 after purchasing an additional 7,500 shares during the period. Invesco Ltd. boosted its holdings in shares of National Energy Services Reunited by 121.7% during the first quarter. Invesco Ltd. now owns 411,741 shares of the company’s stock worth $2,091,000 after purchasing an additional 226,002 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of National Energy Services Reunited by 54.0% during the first quarter. Geode Capital Management LLC now owns 231,461 shares of the company’s stock worth $1,175,000 after purchasing an additional 81,190 shares during the period. 24.91% of the stock is currently owned by institutional investors and hedge funds.

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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