Zacks: Analysts Anticipate CARBO Ceramics Inc. (CRR) Will Post Quarterly Sales of $48.16 Million

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Analysts predict that CARBO Ceramics Inc. (NYSE:CRR) will post $48.16 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for CARBO Ceramics’ earnings, with estimates ranging from $48.10 million to $48.22 million. CARBO Ceramics posted sales of $60.34 million during the same quarter last year, which suggests a negative year over year growth rate of 20.2%. The company is expected to report its next earnings results on Thursday, January 24th.

According to Zacks, analysts expect that CARBO Ceramics will report full-year sales of $209.35 million for the current year, with estimates ranging from $209.30 million to $209.40 million. For the next financial year, analysts expect that the firm will post sales of $228.56 million, with estimates ranging from $220.82 million to $236.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CARBO Ceramics.

CARBO Ceramics (NYSE:CRR) last released its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.24). The business had revenue of $53.82 million during the quarter, compared to analysts’ expectations of $66.76 million. CARBO Ceramics had a negative return on equity of 18.72% and a negative net margin of 32.14%.

CRR has been the subject of several research analyst reports. ValuEngine upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies set a $9.00 price objective on CARBO Ceramics and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Finally, OTR Global cut CARBO Ceramics to an “underperform” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.00.

NYSE:CRR traded up $0.18 during trading hours on Friday, hitting $5.15. The company’s stock had a trading volume of 345,715 shares, compared to its average volume of 506,975. The stock has a market capitalization of $139.73 million, a price-to-earnings ratio of -1.37 and a beta of 1.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.87 and a current ratio of 3.07. CARBO Ceramics has a 52-week low of $4.50 and a 52-week high of $12.69.

A number of large investors have recently added to or reduced their stakes in CRR. Brown Advisory Inc. raised its position in CARBO Ceramics by 38.7% in the first quarter. Brown Advisory Inc. now owns 21,176 shares of the oil and gas company’s stock worth $153,000 after acquiring an additional 5,910 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in CARBO Ceramics in the first quarter valued at $224,000. Bank of America Corp DE grew its holdings in CARBO Ceramics by 66.3% in the second quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 9,780 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in CARBO Ceramics in the second quarter valued at $232,000. Finally, Spark Investment Management LLC acquired a new stake in CARBO Ceramics in the second quarter valued at $304,000. Hedge funds and other institutional investors own 81.16% of the company’s stock.

CARBO Ceramics Company Profile

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

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Earnings History and Estimates for CARBO Ceramics (NYSE:CRR)

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