Expro Group (NYSE:XPRO) Shares Gap Up After Strong Earnings

Key Points

• Expro Group's share price experienced a significant increase, opening at $11.00 after closing at $9.00, with the last traded price being $10.96.
• Analysts have mixed ratings for Expro Group, with a consensus rating of "Moderate Buy" and a target price of $11.50; however, some firms have decreased their price targets.
• The company reported a loss of $0.11 per share in its latest earnings results, missing consensus estimates and reflecting a return on equity of 6.89%.

Expro Group Holdings N.V. (NYSE:XPRO - Get Free Report) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.00, but opened at $11.00. Expro Group shares last traded at $10.96, with a volume of 299,825 shares changing hands.

The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Expro Group had a net margin of 4.26% and a return on equity of 6.43%. The firm had revenue of $422.74 million for the quarter, compared to the consensus estimate of $408.04 million.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XPRO. Piper Sandler began coverage on shares of Expro Group in a report on Tuesday, July 15th. They set a "neutral" rating and a $10.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of Expro Group from $17.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Barclays raised their price objective on shares of Expro Group from $12.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday. Pickering Energy Partners assumed coverage on shares of Expro Group in a report on Monday, July 28th. They issued an "outperform" rating for the company. Finally, Wells Fargo & Company assumed coverage on shares of Expro Group in a report on Tuesday, May 27th. They issued an "overweight" rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $12.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Earnest Partners LLC raised its holdings in shares of Expro Group by 60.0% in the 1st quarter. Earnest Partners LLC now owns 7,140,421 shares of the company's stock worth $70,976,000 after purchasing an additional 2,678,489 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Expro Group by 27.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,125,506 shares of the company's stock worth $138,736,000 after purchasing an additional 2,426,258 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Expro Group in the 4th quarter worth approximately $21,711,000. Brown Advisory Inc. raised its holdings in shares of Expro Group by 108.3% in the 4th quarter. Brown Advisory Inc. now owns 1,686,177 shares of the company's stock worth $21,027,000 after purchasing an additional 876,619 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Expro Group by 20.4% in the 1st quarter. American Century Companies Inc. now owns 5,065,985 shares of the company's stock worth $50,356,000 after purchasing an additional 859,000 shares in the last quarter. 92.07% of the stock is owned by institutional investors and hedge funds.

Expro Group Price Performance

The business's fifty day moving average is $9.06 and its 200 day moving average is $10.01. The company has a current ratio of 2.14, a quick ratio of 1.74 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.22 billion, a P/E ratio of 17.26 and a beta of 1.20.

About Expro Group

Expro Group Holdings N.V. engages in the provision of energy services in North and Latin America, Europe and Sub-Saharan Africa, the Middle East and North Africa, and the Asia-Pacific. The company provides well construction services, such as technology solutions in drilling, tubular running services, and cementing and tubulars; and well management services, including well flow management, subsea well access, and well intervention and integrity solutions.