National Energy Services Reunited (NASDAQ:NESR) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• National Energy Services Reunited reported quarterly EPS of $0.38, beating analyst expectations of $0.36 by $0.02; revenue of $504.73 million also exceeded the $495.93 million consensus.
• Analysts maintain a Moderate Buy consensus, with nine Buy ratings and one Hold rating and an average price target of $40.38.
• Company insiders sold 176,894 shares worth about $6.22 million over the past three months.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02, FiscalAI reports. The firm had revenue of $504.73 million for the quarter, compared to analysts' expectations of $495.93 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $19.96 on Monday. The business's 50 day moving average price is $26.56 and its 200-day moving average price is $25.55. National Energy Services Reunited has a fifty-two week low of $12.21 and a fifty-two week high of $36.94. The company has a market cap of $2.01 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.23 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

Insider Buying and Selling

In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares of the company's stock, valued at $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mejia Antonio J. Campo sold 63,324 shares of National Energy Services Reunited stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the transaction, the director directly owned 696,398 shares of the company's stock, valued at $24,687,309.10. The trade was a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 176,894 shares of company stock worth $6,221,414 over the last three months. 9.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on NESR shares. Barclays dropped their target price on shares of National Energy Services Reunited from $45.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. BTIG Research raised their price target on National Energy Services Reunited from $32.00 to $40.00 and gave the company a "buy" rating in a report on Monday, August 10th. Wall Street Zen cut National Energy Services Reunited from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 3rd. Weiss Ratings upgraded National Energy Services Reunited from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, November 2nd. Finally, UBS Group dropped their price objective on National Energy Services Reunited from $47.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, September 29th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.38.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells.

The company's services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.

Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.

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