National Energy Services Reunited (NASDAQ:NESR) Issues Quarterly Earnings Results, Hits Estimates

National Energy Services Reunited (NASDAQ:NESR) announced its earnings results on Wednesday. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30, Zacks reports. The business had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million.

National Energy Services Reunited Stock Down 7.8 %

NESR stock opened at $7.46 on Friday. National Energy Services Reunited has a one year low of $7.30 and a one year high of $10.30. The company’s 50 day moving average price is $8.85 and its two-hundred day moving average price is $8.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91.

Analyst Ratings Changes

Several research firms recently weighed in on NESR. Benchmark began coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They set an “overweight” rating and a $13.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.