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

Key Points

• Expro Group shares opened sharply lower, falling from the prior close of $16.77 to $15.60 before recovering to about $16.18 on trading volume of 14,480 shares.
• Analyst opinions remain mixed, resulting in a consensus “Hold” rating and an average price target of $18.00. Ratings included one Strong Buy, two Buys, two Holds, and two Sells.
• The company reported quarterly EPS of $0.15, below the $0.17 estimate, while revenue of $393.18 million exceeded expectations; revenue nevertheless declined 7% year over year. Institutional investors own a substantial 92.07% of outstanding shares.

Shares of Expro Group Holdings N.V. (NYSE:XPRO - Get Free Report) gapped down prior to trading on Friday. The stock had previously closed at $16.77, but opened at $15.60. Expro Group shares last traded at $16.1760, with a volume of 14,480 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research raised shares of Expro Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Barclays decreased their target price on Expro Group from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Wall Street Zen raised shares of Expro Group to a "hold" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings raised Expro Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Expro Group has a consensus rating of "Hold" and a consensus price target of $18.00.

Expro Group Stock Performance

The business has a 50 day moving average price of $17.06 and a 200 day moving average price of $16.34. The stock has a market cap of $1.88 billion, a P/E ratio of 93.19 and a beta of 0.96. The company has a quick ratio of 1.69, a current ratio of 2.05 and a debt-to-equity ratio of 0.06.

Expro Group (NYSE:XPRO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Expro Group had a net margin of 1.33% and a return on equity of 3.28%. The business had revenue of $393.18 million for the quarter, compared to analysts' expectations of $387.36 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business's quarterly revenue was down 7.0% compared to the same quarter last year. As a group, sell-side analysts expect that Expro Group Holdings N.V. will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Expro Group

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Expro Group in the 2nd quarter valued at about $117,773,000. Webs Creek Capital Management LP acquired a new stake in shares of Expro Group in the second quarter valued at approximately $41,746,474. William Blair Investment Management LLC acquired a new stake in shares of Expro Group in the 2nd quarter worth $25,762,000. Van ECK Associates Corp purchased a new position in Expro Group in the second quarter valued at about $20,502,000. Finally, Empowered Funds LLC acquired a new position in shares of Expro Group in the second quarter worth $8,206,000. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

Expro Group Company Profile

Expro Group, Inc provides energy services and technologies that support the exploration, development, and production of oil and natural gas wells. The company helps operators manage wells throughout their life cycles, from drilling and completion through production, intervention, and abandonment.

Its offerings include well construction and well management services, well flow management, subsea services, and well intervention and integrity solutions. These services are designed to improve operational efficiency, safety, well performance, and reservoir recovery in both offshore and onshore environments.

Headquartered in Houston, Texas, Expro serves energy companies across major oil and gas producing regions worldwide, including North America, the North Sea, the Middle East, Africa, Asia-Pacific, and Latin America.

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