National Energy Services Reunited (NASDAQ:NESR) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• National Energy Services Reunited beat quarterly expectations: EPS was $0.44 versus the $0.35 consensus, while revenue reached $520.75 million compared with estimates of $448.54 million.
• NESR shares opened at $29.02, near their 52-week high of $30.31, giving the company a market capitalization of approximately $2.93 billion.
• Analyst sentiment remains positive: the stock has a consensus “Buy” rating and a $29.71 target price, although insiders sold roughly $135.7 million worth of shares over the past 90 days.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) announced its earnings results on Monday. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.09, FiscalAI reports. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company had revenue of $520.75 million during the quarter, compared to analysts' expectations of $448.54 million.

National Energy Services Reunited Price Performance

National Energy Services Reunited stock opened at $29.02 on Monday. National Energy Services Reunited has a 52-week low of $6.52 and a 52-week high of $30.31. The firm has a 50 day moving average price of $26.79 and a two-hundred day moving average price of $24.21. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 0.34 and a beta of 0.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director owned 229,198 shares in the company, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 5,129,198 shares of company stock worth $135,731,984 over the last ninety days. Company insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. bought a new position in shares of National Energy Services Reunited in the fourth quarter valued at approximately $8,496,000. Invesco Ltd. increased its holdings in National Energy Services Reunited by 135.2% during the 4th quarter. Invesco Ltd. now owns 174,582 shares of the company's stock worth $2,734,000 after acquiring an additional 100,357 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in National Energy Services Reunited by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company's stock worth $174,000 after acquiring an additional 501 shares during the period. VARCOV Co. purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $398,000. Finally, SummitTX Capital L.P. bought a new position in National Energy Services Reunited in the 4th quarter valued at $7,598,000. 15.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BTIG Research reaffirmed a "buy" rating and set a $32.00 target price on shares of National Energy Services Reunited in a report on Friday, July 10th. UBS Group boosted their price target on National Energy Services Reunited from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Barclays raised their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Finally, Zacks Research upgraded shares of National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $29.71.

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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