What is B. Riley’s Forecast for NR FY2024 Earnings?

Newpark Resources, Inc. (NYSE:NR) – Equities researchers at B. Riley issued their FY2024 EPS estimates for Newpark Resources in a note issued to investors on Monday, November 11th. B. Riley analyst A. Rygiel expects that the oil and gas company will post earnings of $0.23 per share for the year. The consensus estimate for Newpark Resources’ current full-year earnings is $0.31 per share.

NR has been the subject of a number of other reports. StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Price Performance

Newpark Resources stock opened at $6.99 on Thursday. The firm has a fifty day moving average of $7.08 and a 200-day moving average of $7.59. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $604.64 million, a P/E ratio of -3.82 and a beta of 2.87.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. CWM LLC raised its stake in shares of Newpark Resources by 114.5% in the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Newpark Resources during the first quarter valued at approximately $86,000. Ground Swell Capital LLC bought a new position in Newpark Resources during the 2nd quarter worth approximately $91,000. EP Wealth Advisors LLC acquired a new position in shares of Newpark Resources in the 3rd quarter worth approximately $96,000. Finally, Captrust Financial Advisors increased its holdings in shares of Newpark Resources by 10.8% in the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 1,430 shares during the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

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.