National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• National Energy Services Reunited (NASDAQ:NESR) has received a consensus rating of "Buy" from five analysts, with an average 1-year target price of $14.20.
• The company reported earnings of $0.14 per share, missing analysts' expectations of $0.20, and had revenue of $303.10 million versus expectations of $304.68 million.
• Several hedge funds have recently acquired new positions in NESR, indicating increased institutional interest in the company's stock.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) have been assigned an average recommendation of "Buy" from the five ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.20.

A number of equities analysts have commented on NESR shares. Piper Sandler assumed coverage on National Energy Services Reunited in a research note on Monday, July 14th. They issued an "overweight" rating and a $11.00 price target on the stock. Wall Street Zen upgraded shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a report on Saturday.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited during the second quarter valued at approximately $34,000. Ameritas Investment Partners Inc. purchased a new stake in National Energy Services Reunited in the second quarter worth $37,000. Acadian Asset Management LLC bought a new stake in National Energy Services Reunited in the first quarter valued at $48,000. Tower Research Capital LLC TRC purchased a new position in National Energy Services Reunited during the 4th quarter valued at $49,000. Finally, National Bank of Canada FI purchased a new position in National Energy Services Reunited during the 4th quarter valued at $74,000. Hedge funds and other institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Trading Up 2.2%

National Energy Services Reunited stock traded up $0.15 during mid-day trading on Friday, hitting $7.07. The company's stock had a trading volume of 150,752 shares, compared to its average volume of 449,448. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 0.90. The stock has a market cap of $681.92 million, a price-to-earnings ratio of 8.71 and a beta of 0.39. The business has a 50 day moving average price of $6.28 and a 200-day moving average price of $7.00. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $9.89.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. The company had revenue of $303.10 million during the quarter, compared to analysts' expectations of $304.68 million. As a group, analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.