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

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.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) has been given a consensus rating of "Buy" by the five research firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.60.

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

National Energy Services Reunited Price Performance

NESR stock traded down $0.18 during midday trading on Wednesday, reaching $9.53. The company had a trading volume of 618,264 shares, compared to its average volume of 775,882. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $9.89. The company has a market capitalization of $919.17 million, a P/E ratio of 12.38 and a beta of 0.36. The firm has a 50-day moving average price of $7.19 and a 200-day moving average price of $6.87.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $316.07 million. On average, research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds have recently made changes to their positions in the business. Iridian Asset Management LLC CT lifted its holdings in shares of National Energy Services Reunited by 78.1% in the 1st quarter. Iridian Asset Management LLC CT now owns 273,944 shares of the company's stock worth $2,016,000 after acquiring an additional 120,108 shares during the last quarter. Millennium Management LLC bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $3,515,000. Bank of America Corp DE bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $1,208,000. Penn Capital Management Company LLC lifted its holdings in shares of National Energy Services Reunited by 111.9% in the 1st quarter. Penn Capital Management Company LLC now owns 87,630 shares of the company's stock worth $645,000 after acquiring an additional 46,276 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $1,162,000. 15.55% of the stock is currently owned by institutional investors.

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.