National Energy Services Reunited (NASDAQ:NESR) Receives Average Recommendation of "Buy" from Analysts

Key Points

• National Energy Services Reunited (NASDAQ:NESR) has received an average analyst rating of "Buy" from five firms, with a one-year price target of $14.60.
• The company reported earnings of $0.21 per share, exceeding the consensus estimate, along with revenue of $327.37 million for the last quarter.
• Institutional investors have shown increased interest in NESR, with notable acquisitions including positions from Tower Research Capital and Legal & General Group, reflecting a trend of 15.55% ownership by these entities.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) have been assigned a consensus rating of "Buy" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $14.60.

Several research firms have recently weighed in on NESR. Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a research report on Monday, August 25th. Piper Sandler boosted their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $49,000. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at about $37,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited in the 1st quarter valued at about $48,000. Finally, Toronto Dominion Bank acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $90,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Price Performance

NESR opened at $9.38 on Wednesday. The company has a 50-day moving average of $6.97 and a 200-day moving average of $6.89. The company has a market capitalization of $904.70 million, a P/E ratio of 12.18 and a beta of 0.37. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $9.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its 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. The company had revenue of $327.37 million during the quarter, compared to the consensus estimate of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. Equities analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

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.

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