FY2024 EPS Estimates for Newpark Resources, Inc. (NYSE:NR) Increased by Analyst

Newpark Resources, Inc. (NYSE:NR) – Equities researchers at B. Riley lifted their FY2024 EPS estimates for Newpark Resources in a research report issued on Wednesday, August 7th. B. Riley analyst A. Rygiel now forecasts that the oil and gas company will post earnings of $0.38 per share for the year, up from their prior forecast of $0.36. B. Riley has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.35 per share. B. Riley also issued estimates for Newpark Resources’ FY2025 earnings at $0.41 EPS.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. The company had revenue of $179.01 million for the quarter, compared to analysts’ expectations of $171.04 million. During the same quarter in the previous year, the firm posted $0.08 EPS.

A number of other brokerages have also issued reports on NR. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $11.00.

Newpark Resources Price Performance

NR stock traded down $0.15 during trading on Thursday, reaching $7.45. 534,393 shares of the company were exchanged, compared to its average volume of 674,356. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79. The stock’s 50 day moving average price is $7.97 and its 200 day moving average price is $7.37. Newpark Resources has a 52-week low of $5.08 and a 52-week high of $8.65. The company has a market cap of $634.75 million, a P/E ratio of 41.39 and a beta of 2.89.

Institutional Trading of Newpark Resources

Several hedge funds have recently added to or reduced their stakes in NR. Vanguard Group Inc. raised its stake in shares of Newpark Resources by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock worth $28,932,000 after buying an additional 162,941 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Newpark Resources in the 4th quarter worth approximately $153,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Newpark Resources by 29.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,682 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 7,681 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Newpark Resources in the 4th quarter worth approximately $460,000. Finally, Mackenzie Financial Corp acquired a new stake in Newpark Resources during the fourth quarter valued at approximately $101,000. Institutional investors own 80.81% of the company’s stock.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.