Smart Sand (NASDAQ:SND) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Smart Sand reported a quarterly earnings per share (EPS) of ($0.01), with negative margins and return on equity, highlighting financial challenges.
• The company announced a special dividend of $0.10 per share, set to be paid on August 14th, for stockholders of record on August 4th.
• Analysts have downgraded Smart Sand's stock rating from "strong-buy" to "hold", reflecting a shift in market sentiment.

Smart Sand (NASDAQ:SND - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02, Zacks reports. Smart Sand had a net margin of 0.26% and a negative return on equity of 8.83%. The business had revenue of $85.77 million for the quarter, compared to analyst estimates of $60.00 million.

Smart Sand Price Performance

SND traded up $0.03 on Friday, hitting $1.90. 110,331 shares of the stock were exchanged, compared to its average volume of 96,321. Smart Sand has a 12 month low of $1.76 and a 12 month high of $2.80. The business has a 50-day moving average of $2.00 and a two-hundred day moving average of $2.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.86 and a quick ratio of 1.22. The firm has a market capitalization of $82.76 million, a price-to-earnings ratio of 190.00 and a beta of 0.83.

Smart Sand Announces Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 4th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in shares of Smart Sand in the 1st quarter worth $26,000. Sei Investments Co. bought a new position in Smart Sand during the 2nd quarter valued at $82,000. Jane Street Group LLC lifted its stake in Smart Sand by 348.8% during the 1st quarter. Jane Street Group LLC now owns 81,013 shares of the company's stock valued at $210,000 after acquiring an additional 62,961 shares in the last quarter. Empowered Funds LLC lifted its stake in Smart Sand by 7.0% during the 1st quarter. Empowered Funds LLC now owns 161,480 shares of the company's stock valued at $418,000 after acquiring an additional 10,588 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Smart Sand by 19.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 384,416 shares of the company's stock valued at $773,000 after acquiring an additional 61,473 shares in the last quarter. Institutional investors and hedge funds own 35.21% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Smart Sand from a "hold" rating to a "buy" rating in a report on Saturday.

Smart Sand Company Profile

Smart Sand, Inc, an integrated frac and industrial sand supply and services company, engages in the excavation, processing, and sale of sands or proppant for use in hydraulic fracturing operations in the oil and gas industry in the United States. It also provides proppant logistics services; and wellsite storage solutions through SmartSystems products and services.