What is HC Wainwright’s Estimate for NR FY2024 Earnings?

Newpark Resources, Inc. (NYSE:NR) – Research analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Newpark Resources in a report released on Monday, November 11th. HC Wainwright analyst A. Dayal now expects that the oil and gas company will post earnings of $0.42 per share for the year, up from their previous estimate of $0.33. HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.36 per share. HC Wainwright also issued estimates for Newpark Resources’ Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS and FY2025 earnings at $0.34 EPS.

Separately, StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Price Performance

NR stock opened at $7.28 on Tuesday. The firm has a 50 day moving average of $7.10 and a 200-day moving average of $7.59. The company has a market cap of $629.50 million, a price-to-earnings 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. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65.

Hedge Funds Weigh In On Newpark Resources

A number of large investors have recently modified their holdings of the company. CWM LLC boosted its position in shares of Newpark Resources by 114.5% in the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock worth $81,000 after buying an additional 5,193 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Newpark Resources in the 1st quarter worth approximately $86,000. Ground Swell Capital LLC purchased a new position in Newpark Resources in the 2nd quarter worth approximately $91,000. SG Americas Securities LLC acquired a new stake in Newpark Resources in the third quarter valued at approximately $116,000. Finally, Catalina Capital Group LLC raised its stake in shares of Newpark Resources by 10.6% during the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,360 shares during the period. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

About Newpark Resources

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.