Expro Group (NYSE:XPRO) Shares Gap Down - Here's Why

Key Points

• Expro Group shares opened lower, falling from the prior close of $17.43 to $16.59 and later trading near $16.54.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and an average price target of $18.00, with targets including Goldman Sachs’ and Barclays’ $19.00 forecasts.
• Expro’s latest quarterly results included EPS of $0.15, below the $0.17 consensus, while revenue of $393.18 million exceeded expectations but declined 7% year over year.

Expro Group Holdings N.V. (NYSE:XPRO - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $17.43, but opened at $16.59. Expro Group shares last traded at $16.5420, with a volume of 23,437 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group set a $19.00 price objective on Expro Group in a research note on Thursday, June 4th. Barclays cut their price target on Expro Group from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. KeyCorp upgraded Expro Group to a "neutral" rating in a research note on Thursday, June 4th. Zacks Research raised Expro Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Expro Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.00.

Expro Group Stock Up 0.1%

The firm has a market capitalization of $1.85 billion, a PE ratio of 91.44 and a beta of 0.92. The company has a current ratio of 2.13, a quick ratio of 1.76 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $17.10 and a two-hundred day moving average of $16.48.

Expro Group (NYSE:XPRO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The business had revenue of $393.18 million during the quarter, compared to analysts' expectations of $387.36 million. Expro Group had a net margin of 1.33% and a return on equity of 3.27%. The business's revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. On average, equities research analysts forecast that Expro Group Holdings N.V. will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. KBC Group NV bought a new stake in shares of Expro Group in the first quarter worth $45,000. Global Retirement Partners LLC acquired a new position in Expro Group during the 2nd quarter worth $62,000. Royal Bank of Canada grew its holdings in Expro Group by 43.8% during the 1st quarter. Royal Bank of Canada now owns 4,015 shares of the company's stock worth $71,000 after acquiring an additional 1,222 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Expro Group in the 2nd quarter worth about $98,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Expro Group in the 4th quarter worth about $139,000. Institutional investors and hedge funds own 92.07% of the company's stock.

About Expro Group

Expro Group, Inc provides energy services for offshore and onshore oil and natural gas wells. The company supports customers throughout the well life cycle, from exploration and appraisal through development, production, intervention and decommissioning.

Its services include well testing and evaluation, well flow management, subsea well access, well intervention, production optimization and well construction support. Expro also provides equipment and technologies designed to improve well performance, manage pressure and fluids, and support safe and efficient operations in challenging environments.

Expro serves exploration and production companies, primarily across international markets including the North Sea, the Gulf of Mexico, the Middle East, Africa, Asia-Pacific and Latin America.

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