Brokerages forecast that NexTier Oilfield Solutions Inc. (NYSE:NEX) will report $192.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for NexTier Oilfield Solutions’ earnings, with the highest sales estimate coming in at $251.00 million and the lowest estimate coming in at $155.70 million. NexTier Oilfield Solutions reported sales of $427.73 million in the same quarter last year, which would suggest a negative year over year growth rate of 55%. The company is scheduled to report its next earnings results on Monday, August 3rd.
According to Zacks, analysts expect that NexTier Oilfield Solutions will report full-year sales of $1.22 billion for the current year, with estimates ranging from $1.07 billion to $1.44 billion. For the next year, analysts expect that the company will post sales of $1.06 billion, with estimates ranging from $793.40 million to $1.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow NexTier Oilfield Solutions.
NexTier Oilfield Solutions (NYSE:NEX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. The business had revenue of $627.60 million for the quarter, compared to analyst estimates of $617.34 million. NexTier Oilfield Solutions had a negative net margin of 7.70% and a negative return on equity of 3.63%. The business’s quarterly revenue was up 22.9% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in NEX. US Bancorp DE purchased a new position in NexTier Oilfield Solutions in the 4th quarter worth approximately $29,000. Advisor Group Inc. purchased a new position in NexTier Oilfield Solutions in the 4th quarter worth approximately $39,000. Arizona State Retirement System purchased a new position in NexTier Oilfield Solutions in the 1st quarter worth approximately $43,000. Royal Bank of Canada grew its stake in NexTier Oilfield Solutions by 135.6% in the 1st quarter. Royal Bank of Canada now owns 38,710 shares of the company’s stock worth $44,000 after buying an additional 22,278 shares in the last quarter. Finally, Waldron Private Wealth LLC purchased a new position in NexTier Oilfield Solutions in the 1st quarter worth approximately $50,000. 90.51% of the stock is owned by institutional investors and hedge funds.
NEX stock traded up $0.15 during mid-day trading on Thursday, hitting $2.35. The company had a trading volume of 1,117,500 shares, compared to its average volume of 2,187,469. The firm has a market cap of $470.34 million, a PE ratio of -2.83 and a beta of 3.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.60. NexTier Oilfield Solutions has a 12 month low of $1.00 and a 12 month high of $7.21. The stock’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $3.82.
About NexTier Oilfield Solutions
NexTier Oilfield Solutions Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.
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