What is B. Riley’s Forecast for NR FY2024 Earnings?

Newpark Resources, Inc. (NYSE:NR) – Stock analysts at B. Riley issued their FY2024 EPS estimates for shares of Newpark Resources in a report issued on Monday, November 11th. B. Riley analyst A. Rygiel anticipates that the oil and gas company will post earnings per share of $0.23 for the year. The consensus estimate for Newpark Resources’ current full-year earnings is $0.36 per share.

NR has been the topic of several other reports. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research report on Monday. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Newpark Resources presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Down 2.2 %

NR stock opened at $7.12 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The firm has a market capitalization of $615.67 million, a PE ratio of -3.90 and a beta of 2.87. The company’s 50 day simple moving average is $7.08 and its 200-day simple moving average is $7.59.

Institutional Trading of Newpark Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NR. Captrust Financial Advisors raised its stake in Newpark Resources by 10.8% during the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,430 shares during the period. Pennant Select LLC raised its position in shares of Newpark Resources by 65.0% in the 3rd quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company’s stock worth $6,861,000 after buying an additional 390,000 shares during the period. BNP Paribas Financial Markets boosted its holdings in Newpark Resources by 529.6% in the third quarter. BNP Paribas Financial Markets now owns 43,138 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 36,286 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Newpark Resources during the third quarter valued at about $471,000. Finally, Fisher Asset Management LLC increased its stake in Newpark Resources by 6.6% during the third quarter. Fisher Asset Management LLC now owns 239,286 shares of the oil and gas company’s stock worth $1,658,000 after acquiring an additional 14,802 shares during the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.