Atb Cap Markets Has Bullish Outlook for NINE FY2024 Earnings

Nine Energy Service, Inc. (NYSE:NINE) – Equities researchers at Atb Cap Markets boosted their FY2024 earnings per share (EPS) estimates for shares of Nine Energy Service in a report released on Sunday, November 3rd. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings of ($1.10) per share for the year, up from their previous forecast of ($1.23). The consensus estimate for Nine Energy Service’s current full-year earnings is ($1.23) per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.70) EPS, Q1 2026 earnings at ($0.20) EPS, Q2 2026 earnings at ($0.20) EPS, Q3 2026 earnings at ($0.10) EPS and FY2026 earnings at ($0.60) EPS.

Nine Energy Service Stock Performance

Shares of NINE opened at $1.30 on Wednesday. The stock has a fifty day moving average of $1.12 and a two-hundred day moving average of $1.50. The company has a market capitalization of $55.07 million, a PE ratio of -1.08 and a beta of 3.31. Nine Energy Service has a fifty-two week low of $0.75 and a fifty-two week high of $3.26.

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

Insider Buying and Selling at Nine Energy Service

In other news, insider Ann G. Fox sold 60,358 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $1.00, for a total transaction of $60,358.00. Following the completion of the sale, the insider now directly owns 697,935 shares in the company, valued at $697,935. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 80,572 shares of company stock worth $87,849. Insiders own 5.50% of the company’s stock.

Institutional Trading of Nine Energy Service

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC purchased a new position in Nine Energy Service in the 2nd quarter valued at about $31,000. XTX Topco Ltd purchased a new position in Nine Energy Service in the 2nd quarter valued at about $32,000. Great Valley Advisor Group Inc. purchased a new position in Nine Energy Service in the 2nd quarter valued at about $34,000. Virtu Financial LLC boosted its position in Nine Energy Service by 352.9% in the 1st quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock valued at $131,000 after buying an additional 45,611 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its position in Nine Energy Service by 86.8% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 59,767 shares of the company’s stock valued at $134,000 after buying an additional 27,767 shares during the last quarter. 57.61% of the stock is owned by hedge funds and other institutional investors.

Nine Energy Service Company Profile

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.