Newpark Resources, Inc. (NYSE:NR) Forecasted to Earn Q3 2024 Earnings of $0.07 Per Share

Newpark Resources, Inc. (NYSE:NR) – Stock analysts at B. Riley issued their Q3 2024 earnings estimates for Newpark Resources in a report issued on Wednesday, October 9th. B. Riley analyst A. Rygiel anticipates that the oil and gas company will earn $0.07 per share for the quarter. The consensus estimate for Newpark Resources’ current full-year earnings is $0.32 per share. B. Riley also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.08 EPS and FY2025 earnings at $0.36 EPS.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The firm had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share.

Several other equities analysts also recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Price Performance

NR stock opened at $7.21 on Friday. Newpark Resources has a one year low of $5.61 and a one year high of $8.65. The company’s fifty day moving average price is $7.49 and its 200-day moving average price is $7.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61. The company has a market capitalization of $623.45 million, a PE ratio of 28.84 and a beta of 2.86.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in Newpark Resources during the fourth quarter valued at $2,567,000. CWM LLC increased its position in Newpark Resources by 495.4% during the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 3,775 shares during the last quarter. Fortitude Family Office LLC increased its position in Newpark Resources by 179.1% during the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 4,751 shares during the last quarter. Counterpoint Mutual Funds LLC increased its position in Newpark Resources by 42.0% during the first quarter. Counterpoint Mutual Funds LLC now owns 38,690 shares of the oil and gas company’s stock valued at $279,000 after acquiring an additional 11,449 shares during the last quarter. Finally, First Bank & Trust bought a new position in Newpark Resources during the first quarter valued at $113,000. Hedge funds and other institutional investors 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.