National Energy Services Reunited (NASDAQ:NESR) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded National Energy Services Reunited (NASDAQ:NESR) from a "strong-buy" to a "hold" rating.
• Analyst consensus remains broadly positive with a Moderate Buy consensus (seven Buy vs. two Hold) and an average price target of $25.86.
• NESR recently reported quarterly EPS of $0.32 (beating estimates by $0.07) with revenue up 15.9% year‑over‑year; the stock trades near $23.25 with a $2.34B market cap and a P/E of about 43.9.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

NESR has been the subject of a number of other research reports. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a research report on Monday, January 12th. BTIG Research increased their target price on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of National Energy Services Reunited in a research report on Friday, March 27th. Barclays decreased their target price on shares of National Energy Services Reunited from $34.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Finally, Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, National Energy Services Reunited has a consensus rating of "Moderate Buy" and an average target price of $25.86.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $23.25 on Monday. National Energy Services Reunited has a 12-month low of $5.47 and a 12-month high of $26.85. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 43.87, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. The business has a 50 day simple moving average of $22.19 and a 200 day simple moving average of $17.20. 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 (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The business had revenue of $398.26 million during the quarter. National Energy Services Reunited's revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock worth $30,000 after acquiring an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of National Energy Services Reunited during the 3rd quarter worth $34,000. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited during the 2nd quarter worth $34,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited during the 1st quarter worth $48,000. Finally, Osaic Holdings Inc. bought a new stake in shares of National Energy Services Reunited during the 2nd quarter worth $73,000. Institutional investors own 15.55% of the company's stock.

About National Energy Services Reunited

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.

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