Nine Energy Service, Inc. to Post FY2024 Earnings of ($1.23) Per Share, Atb Cap Markets Forecasts (NYSE:NINE)

Nine Energy Service, Inc. (NYSE:NINE) – Equities researchers at Atb Cap Markets boosted their FY2024 EPS estimates for shares of Nine Energy Service in a note issued to investors on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of ($1.23) per share for the year, up from their previous forecast of ($1.30). The consensus estimate for Nine Energy Service’s current full-year earnings is ($1.30) per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.79) EPS, Q1 2026 earnings at ($0.16) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at ($0.06) EPS and FY2026 earnings at ($0.37) EPS.

Nine Energy Service (NYSE:NINE) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $134.00 million.

Nine Energy Service Price Performance

Nine Energy Service stock opened at $1.30 on Friday. Nine Energy Service has a 12-month low of $1.04 and a 12-month high of $4.48. The company has a market capitalization of $45.92 million, a price-to-earnings ratio of -1.29 and a beta of 3.29. The firm’s fifty day moving average price is $1.30 and its 200 day moving average price is $1.74.

Institutional Investors Weigh In On Nine Energy Service

Several hedge funds and other institutional investors have recently modified their holdings of NINE. CastleKnight Management LP bought a new stake in shares of Nine Energy Service in the 4th quarter worth about $657,000. Gendell Jeffrey L increased its position in shares of Nine Energy Service by 6.7% in the 4th quarter. Gendell Jeffrey L now owns 3,313,322 shares of the company’s stock worth $8,880,000 after purchasing an additional 209,407 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Nine Energy Service in the 4th quarter worth about $62,000. Jaffetilchin Investment Partners LLC increased its position in shares of Nine Energy Service by 86.8% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 59,767 shares of the company’s stock worth $134,000 after purchasing an additional 27,767 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of Nine Energy Service by 352.9% in the 1st quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock worth $131,000 after purchasing an additional 45,611 shares during the last quarter. Institutional investors own 57.61% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder William Monroe purchased 470,362 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $1.58 per share, with a total value of $743,171.96. Following the purchase, the insider now directly owns 3,900,000 shares of the company’s stock, valued at approximately $6,162,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 32,036 shares of company stock valued at $45,697 in the last quarter. Company insiders own 6.20% of the company’s stock.

About Nine Energy Service

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.