Zacks: Brokerages Expect NexTier Oilfield Solutions Inc. (NYSE:NEX) to Announce -$0.18 Earnings Per Share

Equities research analysts expect NexTier Oilfield Solutions Inc. (NYSE:NEX) to announce ($0.18) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for NexTier Oilfield Solutions’ earnings, with estimates ranging from ($0.38) to ($0.02). NexTier Oilfield Solutions reported earnings of $0.06 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 400%. The firm is scheduled to issue its next quarterly earnings report on Monday, August 3rd.

According to Zacks, analysts expect that NexTier Oilfield Solutions will report full-year earnings of ($1.39) per share for the current fiscal year, with EPS estimates ranging from ($1.73) to ($0.89). For the next financial year, analysts anticipate that the business will report earnings of ($1.21) per share, with EPS estimates ranging from ($2.53) to ($0.77). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for NexTier Oilfield Solutions.

NexTier Oilfield Solutions (NYSE:NEX) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.09. NexTier Oilfield Solutions had a negative return on equity of 3.63% and a negative net margin of 7.70%. The business had revenue of $627.60 million during the quarter, compared to the consensus estimate of $617.34 million. NexTier Oilfield Solutions’s revenue was up 22.9% on a year-over-year basis.

Several analysts recently commented on NEX shares. Morgan Stanley dropped their price target on NexTier Oilfield Solutions from $4.50 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, May 19th. Zacks Investment Research upgraded NexTier Oilfield Solutions from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Saturday, May 30th. ValuEngine cut NexTier Oilfield Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 3rd. Bank of America cut NexTier Oilfield Solutions from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $2.00 price target on shares of NexTier Oilfield Solutions in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $3.60.

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE acquired a new position in NexTier Oilfield Solutions during the 4th quarter worth about $29,000. Advisor Group Inc. purchased a new position in shares of NexTier Oilfield Solutions in the 4th quarter valued at about $39,000. Meeder Asset Management Inc. purchased a new position in shares of NexTier Oilfield Solutions in the 4th quarter valued at about $58,000. Great West Life Assurance Co. Can purchased a new position in shares of NexTier Oilfield Solutions in the 4th quarter valued at about $63,000. Finally, Profund Advisors LLC purchased a new position in shares of NexTier Oilfield Solutions in the 4th quarter valued at about $72,000. 90.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NEX traded up $0.15 during trading hours on Tuesday, hitting $2.35. 1,117,500 shares of the stock were exchanged, compared to its average volume of 2,187,469. 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 company has a market cap of $470.34 million, a price-to-earnings ratio of -2.83 and a beta of 3.55. The stock’s 50-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.

Featured Article: How are dividend achievers different from dividend aristocrats?

Get a free copy of the Zacks research report on NexTier Oilfield Solutions (NEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NexTier Oilfield Solutions (NYSE:NEX)

Receive News & Ratings for NexTier Oilfield Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NexTier Oilfield Solutions and related companies with MarketBeat.com's FREE daily email newsletter.