Equities Analysts Offer Predictions for Newpark Resources, Inc.’s Q3 2024 Earnings (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Equities research analysts at B. Riley issued their Q3 2024 earnings estimates for shares of Newpark Resources in a research note issued to investors on Wednesday, October 9th. B. Riley analyst A. Rygiel forecasts that the oil and gas company will earn $0.07 per share for the quarter. The consensus estimate for Newpark Resources’ current full-year earnings is $0.32 per share. B. Riley also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.08 EPS and FY2025 earnings at $0.36 EPS.

Several other brokerages also recently weighed in on NR. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

Shares of NYSE NR opened at $7.05 on Friday. The firm has a 50 day moving average of $7.49 and a 200 day moving average of $7.65. The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $609.61 million, a price-to-earnings ratio of 28.20 and a beta of 2.86. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65.

Newpark Resources (NYSE:NR) last posted its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same period last year, the company posted $0.08 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NR. CWM LLC increased its holdings in shares of Newpark Resources by 495.4% during the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 3,775 shares in the last quarter. Fortitude Family Office LLC increased its stake in Newpark Resources by 179.1% during the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 4,751 shares during the period. Perigon Wealth Management LLC purchased a new stake in Newpark Resources during the first quarter worth about $73,000. Oppenheimer Asset Management Inc. purchased a new stake in Newpark Resources during the first quarter worth about $86,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Newpark Resources during the second quarter worth approximately $91,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Company Profile

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.