National Energy Services Reunited (NASDAQ:NESR) Announces Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• National Energy Services Reunited (NASDAQ:NESR) reported earnings of $0.21 per share, exceeding estimates by $0.02. The company showcased a net margin of 5.87% and a return on equity of 10.96%.
• Brokerages have mixed ratings on NESR, with Piper Sandler giving it an "overweight" rating and a price target of $11.00, while Wall Street Zen downgraded it from "buy" to "hold".
• Significant recent investments from hedge funds include Geode Capital Management increasing its stake in NESR by 2,227.2%, reflecting growing institutional interest in the company.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02, Zacks reports. The firm had revenue of $327.37 million for the quarter, compared to analyst estimates of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%.

National Energy Services Reunited Trading Up 1.4%

Shares of NASDAQ NESR traded up $0.12 during trading on Friday, reaching $8.65. The stock had a trading volume of 966,826 shares, compared to its average volume of 717,328. The business's 50-day moving average price is $6.55 and its 200-day moving average price is $6.92. National Energy Services Reunited has a fifty-two week low of $5.20 and a fifty-two week high of $9.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market cap of $834.29 million, a P/E ratio of 11.23 and a beta of 0.39.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler boosted their target price on National Energy Services Reunited from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen lowered National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $14.60.

Institutional Trading of National Energy Services Reunited

Several hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC acquired a new position in shares of National Energy Services Reunited in the second quarter valued at approximately $2,446,000. Jane Street Group LLC acquired a new position in National Energy Services Reunited in the first quarter valued at $1,425,000. Rhumbline Advisers purchased a new stake in shares of National Energy Services Reunited in the second quarter valued at about $465,000. Jump Financial LLC boosted its stake in shares of National Energy Services Reunited by 188.3% during the second quarter. Jump Financial LLC now owns 52,225 shares of the company's stock worth $314,000 after buying an additional 34,112 shares during the period. Finally, Invesco Ltd. purchased a new position in shares of National Energy Services Reunited during the second quarter worth about $308,000. Institutional investors and hedge funds own 15.55% of the company's stock.

National Energy Services Reunited Company Profile

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.