National Energy Services Reunited (NASDAQ:NESR) Reaches New 12-Month High - Still a Buy?

Key Points

• National Energy Services Reunited (NASDAQ:NESR) recently reached a new 52-week high of $10.80 during mid-day trading, closing at $10.70.
• Analysts have upgraded NESR to a Buy rating with price targets ranging from $13.00 to $16.00, reflecting positive sentiment on the stock's performance.
• The company reported quarterly earnings of $0.21 per share, surpassing expectations and demonstrating a net margin of 5.57% and revenue of $327.37 million.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.80 and last traded at $10.70, with a volume of 173486 shares trading hands. The stock had previously closed at $10.27.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NESR shares. Wall Street Zen upgraded shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a report on Monday, August 25th. Maxim Group started coverage on shares of National Energy Services Reunited in a report on Tuesday, September 9th. They set a "buy" rating and a $16.00 price target on the stock. Piper Sandler increased their price target on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, National Bankshares set a $16.00 price target on shares of National Energy Services Reunited in a report on Tuesday, September 9th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $15.00.

National Energy Services Reunited Stock Up 2.4%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93. The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.67 and a beta of 0.36. The company's 50-day simple moving average is $8.03 and its two-hundred day simple moving average is $7.02.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. The business had revenue of $327.37 million for the quarter, compared to the consensus estimate of $316.07 million. As a group, research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Trading of National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $34,000. Ameritas Investment Partners Inc. bought a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $37,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited during the 1st quarter valued at $48,000. Osaic Holdings Inc. bought a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $73,000. Finally, ProShare Advisors LLC purchased a new position in National Energy Services Reunited during the second quarter valued at $75,000. 15.55% of the stock is currently owned by institutional investors.

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.

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