Zacks: Analysts Expect NexTier Oilfield Solutions Inc. (NYSE:NEX) Will Post Quarterly Sales of $192.43 Million

Wall Street brokerages forecast that NexTier Oilfield Solutions Inc. (NYSE:NEX) will announce sales of $192.43 million for the current quarter, according to Zacks. Five analysts have provided estimates for NexTier Oilfield Solutions’ earnings. The lowest sales estimate is $155.70 million and the highest is $251.00 million. NexTier Oilfield Solutions reported sales of $427.73 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 55%. The company is scheduled to report its next quarterly earnings report on Monday, August 3rd.

On average, analysts expect that NexTier Oilfield Solutions will report full year sales of $1.22 billion for the current financial year, with estimates ranging from $1.07 billion to $1.44 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.06 billion, with estimates ranging from $793.40 million to $1.48 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for NexTier Oilfield Solutions.

NexTier Oilfield Solutions (NYSE:NEX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $627.60 million during the quarter, compared to analyst estimates of $617.34 million. NexTier Oilfield Solutions had a negative net margin of 7.70% and a negative return on equity of 3.63%. The company’s quarterly revenue was up 22.9% on a year-over-year basis.

A number of analysts recently weighed in on NEX shares. Zacks Investment Research raised shares of NexTier Oilfield Solutions from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Saturday, May 30th. Wells Fargo & Co lowered their price target on shares of NexTier Oilfield Solutions from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Monday, April 6th. JPMorgan Chase & Co. lowered their target price on shares of NexTier Oilfield Solutions from $9.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Bank of America lowered shares of NexTier Oilfield Solutions from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $2.00 target price on shares of NexTier Oilfield Solutions in a report on Thursday, May 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $3.60.

Shares of NexTier Oilfield Solutions stock traded up $0.15 during midday trading on Thursday, reaching $2.35. The company had a trading volume of 1,117,500 shares, compared to its average volume of 2,187,469. The company has a current ratio of 1.60, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $470.34 million, a price-to-earnings ratio of -2.83 and a beta of 3.55. The stock has a fifty day simple moving average of $2.85 and a 200 day simple moving average of $3.82. NexTier Oilfield Solutions has a 1-year low of $1.00 and a 1-year high of $7.21.

Hedge funds have recently made changes to their positions in the company. US Bancorp DE acquired a new position in shares of NexTier Oilfield Solutions in the 4th quarter valued at $29,000. Advisor Group Inc. acquired a new position in shares of NexTier Oilfield Solutions in the 4th quarter valued at $39,000. Arizona State Retirement System acquired a new position in shares of NexTier Oilfield Solutions in the 1st quarter valued at $43,000. Royal Bank of Canada grew its holdings in shares of NexTier Oilfield Solutions by 135.6% in the 1st quarter. Royal Bank of Canada now owns 38,710 shares of the company’s stock valued at $44,000 after buying an additional 22,278 shares during the period. Finally, Waldron Private Wealth LLC acquired a new position in shares of NexTier Oilfield Solutions in the 1st quarter valued at $50,000. 90.51% of the stock is owned by institutional investors.

About NexTier Oilfield Solutions

NexTier Oilfield Solutions Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

See Also: Price-Sales Ratio

Get a free copy of the Zacks research report on NexTier Oilfield Solutions (NEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NexTier Oilfield Solutions (NYSE:NEX)

Receive News & Ratings for NexTier Oilfield Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NexTier Oilfield Solutions and related companies with MarketBeat.com's FREE daily email newsletter.