Zacks: Brokerages Anticipate NexTier Oilfield Solutions Inc. (NYSE:NEX) Will Post Earnings of -$0.11 Per Share

Wall Street brokerages expect NexTier Oilfield Solutions Inc. (NYSE:NEX) to report earnings per share of ($0.11) for the current quarter, according to Zacks. Five analysts have made estimates for NexTier Oilfield Solutions’ earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.17). NexTier Oilfield Solutions posted earnings of ($0.38) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 71.1%. The business is expected to announce its next earnings report on Tuesday, November 2nd.

On average, analysts expect that NexTier Oilfield Solutions will report full year earnings of ($0.58) per share for the current fiscal year, with EPS estimates ranging from ($0.65) to ($0.50). For the next year, analysts expect that the firm will report earnings of $0.14 per share, with EPS estimates ranging from ($0.13) to $0.41. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow NexTier Oilfield Solutions.

NexTier Oilfield Solutions (NYSE:NEX) last issued its earnings results on Wednesday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.19). The company had revenue of $292.15 million during the quarter, compared to analyst estimates of $287.74 million. NexTier Oilfield Solutions had a negative net margin of 27.68% and a negative return on equity of 47.57%. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) EPS.

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of NexTier Oilfield Solutions from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Zacks Investment Research lowered shares of NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, NexTier Oilfield Solutions has a consensus rating of “Buy” and a consensus price target of $5.01.

Shares of NYSE:NEX traded down $0.09 during trading on Friday, reaching $4.71. 44,496 shares of the company traded hands, compared to its average volume of 1,876,949. The firm has a fifty day simple moving average of $4.09 and a 200 day simple moving average of $4.23. The firm has a market cap of $1.02 billion, a P/E ratio of -4.14 and a beta of 3.37. NexTier Oilfield Solutions has a 1-year low of $1.70 and a 1-year high of $5.84. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 0.69.

In related news, CAO Burns Lamphung Ngo sold 25,000 shares of NexTier Oilfield Solutions stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $4.14, for a total value of $103,500.00. Following the completion of the sale, the chief accounting officer now owns 40,600 shares of the company’s stock, valued at approximately $168,084. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its holdings in NexTier Oilfield Solutions by 44.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the company’s stock worth $154,000 after acquiring an additional 10,287 shares during the period. First Hawaiian Bank raised its holdings in NexTier Oilfield Solutions by 30.6% in the 3rd quarter. First Hawaiian Bank now owns 117,975 shares of the company’s stock worth $543,000 after acquiring an additional 27,616 shares during the period. Virtu Financial LLC bought a new position in NexTier Oilfield Solutions in the 2nd quarter worth $69,000. Parametric Portfolio Associates LLC raised its holdings in NexTier Oilfield Solutions by 6.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 152,949 shares of the company’s stock worth $728,000 after acquiring an additional 8,630 shares during the period. Finally, Morgan Stanley raised its holdings in NexTier Oilfield Solutions by 1,241.3% in the 2nd quarter. Morgan Stanley now owns 226,364 shares of the company’s stock worth $1,078,000 after acquiring an additional 209,487 shares during the period. Hedge funds and other institutional investors own 87.05% of the company’s stock.

NexTier Oilfield Solutions Company Profile

NexTier Oilfield Solutions, Incis an oilfield service company. It offers completion solutions, hydraulic fracturing, wire line, pump down, coiled tubing, cementing, rig services, special services, and fluids management services. The company operates through the following segments: Completion Services, Well Construction and Intervention Services and Well Support Services.

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