National Energy Services Reunited (NASDAQ:NESR) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded NESR from "strong-buy" to "buy," though the stock retains a consensus "Moderate Buy" from analysts (7 Buy, 2 Hold) with a consensus target price of $25.86.
• Fundamentals showed momentum: NESR beat quarterly EPS estimates ($0.32 vs. $0.25) with $398.3M in revenue (up 15.9% YoY) and currently trades near $24.29 with a $2.45B market cap and a P/E of 45.8.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Monday.

A number of other research analysts have also commented on the company. National Bank Financial set a $21.00 price target on National Energy Services Reunited in a research report on Friday, January 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Energy Services Reunited in a research report on Friday, March 27th. UBS Group upped their price target on National Energy Services Reunited to $31.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a report on Monday, January 12th. Finally, Barclays lowered their price objective on shares of National Energy Services Reunited from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.86.

National Energy Services Reunited Stock Performance

NESR opened at $24.29 on Monday. The business has a 50 day simple moving average of $22.38 and a two-hundred day simple moving average of $17.48. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 45.83, a PEG ratio of 0.37 and a beta of 0.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89. National Energy Services Reunited has a one year low of $5.47 and a one year high of $26.85.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

Several institutional investors and hedge funds have recently bought and sold shares of NESR. Millennium Management LLC lifted its holdings in National Energy Services Reunited by 38.2% in the first quarter. Millennium Management LLC now owns 542,135 shares of the company's stock worth $3,990,000 after buying an additional 149,796 shares during the period. Jane Street Group LLC bought a new stake in National Energy Services Reunited during the first quarter worth about $1,425,000. Acadian Asset Management LLC bought a new stake in National Energy Services Reunited during the first quarter worth about $48,000. Geode Capital Management LLC boosted its stake in National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company's stock worth $4,908,000 after acquiring an additional 780,180 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in National Energy Services Reunited during the second quarter worth about $34,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp NASDAQ: NESR is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company's mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR's service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.