Roth Capital Has Positive Outlook for NR FY2024 Earnings

Newpark Resources, Inc. (NYSE:NR) – Analysts at Roth Capital raised their FY2024 EPS estimates for shares of Newpark Resources in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst G. Sweeney now expects that the oil and gas company will earn $0.39 per share for the year, up from their previous forecast of $0.30. The consensus estimate for Newpark Resources’ current full-year earnings is $0.36 per share. Roth Capital also issued estimates for Newpark Resources’ FY2025 earnings at $0.37 EPS.

A number of other equities research analysts also recently weighed in on NR. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Monday. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Newpark Resources currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Performance

Shares of NR stock opened at $7.28 on Thursday. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The firm has a market capitalization of $629.50 million, a PE ratio of -3.98 and a beta of 2.87. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $7.10 and a two-hundred day simple moving average of $7.59.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NR. CWM LLC raised its holdings in Newpark Resources by 114.5% during the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Newpark Resources during the 1st quarter valued at approximately $86,000. Ground Swell Capital LLC acquired a new position in Newpark Resources during the second quarter worth $91,000. SG Americas Securities LLC acquired a new stake in Newpark Resources in the 3rd quarter valued at about $116,000. Finally, Catalina Capital Group LLC increased its stake in shares of Newpark Resources by 10.6% during the 2nd quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

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.