Brokerages forecast that Keane Group Inc (NYSE:FRAC) will report $426.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Keane Group’s earnings, with the highest sales estimate coming in at $484.20 million and the lowest estimate coming in at $409.31 million. Keane Group reported sales of $578.53 million in the same quarter last year, which would suggest a negative year over year growth rate of 26.3%. The company is scheduled to report its next earnings results on Monday, July 29th.
According to Zacks, analysts expect that Keane Group will report full-year sales of $1.73 billion for the current year, with estimates ranging from $1.65 billion to $1.91 billion. For the next year, analysts expect that the company will post sales of $1.96 billion, with estimates ranging from $1.76 billion to $2.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Keane Group.
Keane Group (NYSE:FRAC) last issued its earnings results on Monday, May 6th. The company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The company had revenue of $421.70 million during the quarter, compared to the consensus estimate of $412.79 million. Keane Group had a return on equity of 13.57% and a net margin of 2.24%. The company’s revenue was down 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share.
Shares of Keane Group stock traded up $0.19 during midday trading on Tuesday, hitting $7.16. The company’s stock had a trading volume of 469,815 shares, compared to its average volume of 670,767. The stock has a market cap of $730.87 million, a PE ratio of 7.78 and a beta of 1.51. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. Keane Group has a 1-year low of $6.66 and a 1-year high of $14.60.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Keane Group by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,167,693 shares of the company’s stock worth $51,555,000 after purchasing an additional 33,691 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Keane Group by 8,067.6% in the fourth quarter. Bank of Montreal Can now owns 103,483 shares of the company’s stock valued at $847,000 after buying an additional 102,216 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Keane Group in the fourth quarter valued at approximately $69,000. Rhumbline Advisers boosted its position in Keane Group by 44.9% during the fourth quarter. Rhumbline Advisers now owns 70,249 shares of the company’s stock worth $575,000 after purchasing an additional 21,774 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Keane Group during the fourth quarter worth $976,000. 89.51% of the stock is owned by institutional investors and hedge funds.
Keane Group Company Profile
Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.
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