Brokerages forecast that CSI Compressco LP (NASDAQ:CCLP) will post $120.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for CSI Compressco’s earnings, with the lowest sales estimate coming in at $119.72 million and the highest estimate coming in at $121.17 million. CSI Compressco posted sales of $115.26 million in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is scheduled to issue its next earnings report on Wednesday, November 6th.
On average, analysts expect that CSI Compressco will report full-year sales of $481.06 million for the current year, with estimates ranging from $478.16 million to $483.95 million. For the next year, analysts forecast that the business will report sales of $510.41 million, with estimates ranging from $478.87 million to $547.36 million. Zacks’ sales calculations are an average based on a survey of analysts that cover CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The company had revenue of $135.86 million for the quarter, compared to analysts’ expectations of $134.36 million. CSI Compressco had a negative return on equity of 39.24% and a negative net margin of 5.49%.
Shares of NASDAQ:CCLP traded up $0.06 during midday trading on Friday, hitting $2.86. 935 shares of the stock were exchanged, compared to its average volume of 83,623. The stock has a market capitalization of $130.77 million, a price-to-earnings ratio of -3.33 and a beta of 1.92. The company has a debt-to-equity ratio of 11.76, a quick ratio of 0.67 and a current ratio of 1.22. The business’s 50-day moving average price is $2.93 and its 200 day moving average price is $3.20. CSI Compressco has a 12 month low of $2.10 and a 12 month high of $5.82.
Several institutional investors have recently bought and sold shares of CCLP. Invesco Ltd. acquired a new position in shares of CSI Compressco in the second quarter worth approximately $19,589,000. B. Riley Financial Inc. acquired a new position in shares of CSI Compressco in the second quarter worth approximately $1,343,000. Wells Fargo & Company MN lifted its stake in shares of CSI Compressco by 13.4% in the second quarter. Wells Fargo & Company MN now owns 1,254,531 shares of the oil and gas company’s stock worth $4,441,000 after acquiring an additional 148,501 shares during the period. Wiley BROS. Aintree Capital LLC lifted its stake in shares of CSI Compressco by 30.5% in the third quarter. Wiley BROS. Aintree Capital LLC now owns 440,168 shares of the oil and gas company’s stock worth $1,303,000 after acquiring an additional 102,849 shares during the period. Finally, Hilltop Holdings Inc. lifted its stake in shares of CSI Compressco by 89.7% in the second quarter. Hilltop Holdings Inc. now owns 208,050 shares of the oil and gas company’s stock worth $736,000 after acquiring an additional 98,350 shares during the period. 25.60% of the stock is currently owned by institutional investors.
About CSI Compressco
CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.
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