National Energy Services Reunited (NASDAQ:NESR) Hits New 12-Month High - Here's What Happened

Key Points

• National Energy Services Reunited (NASDAQ:NESR) has reached a new 52-week high, trading at $10.54, with a current stock value of $10.43.
• Analysts have given the stock a consensus rating of "Buy" with target prices ranging from $13.00 to $16.00.
• The company reported quarterly earnings of $0.21 EPS, exceeding expectations, with a revenue of $327.37 million for that quarter.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $10.54 and last traded at $10.43, with a volume of 639832 shares changing hands. The stock had previously closed at $10.34.

Wall Street Analyst Weigh In

Several brokerages recently commented on NESR. 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 Bankshares set a $16.00 price objective on National Energy Services Reunited in a report on Tuesday, September 9th. Maxim Group began coverage on National Energy Services Reunited in a research report on Tuesday, September 9th. They issued a "buy" rating and a $16.00 price target on the stock. Finally, Piper Sandler raised their price objective on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $15.00.

National Energy Services Reunited Stock Performance

The business's fifty day moving average is $7.95 and its 200-day moving average is $7.01. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 0.24. The company has a market cap of $981.86 million, a PE ratio of 13.22 and a beta of 0.37.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its 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 return on equity of 9.91% and a net margin of 5.57%.The company had revenue of $327.37 million for the quarter, compared to analysts' expectations of $316.07 million. As a group, research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

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