Zacks: Brokerages Anticipate Keane Group Inc (NYSE:FRAC) Will Announce Quarterly Sales of $447.77 Million

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Equities research analysts expect that Keane Group Inc (NYSE:FRAC) will report sales of $447.77 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Keane Group’s earnings, with the lowest sales estimate coming in at $443.00 million and the highest estimate coming in at $454.40 million. Keane Group reported sales of $558.91 million in the same quarter last year, which would suggest a negative year over year growth rate of 19.9%. The company is expected to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Keane Group will report full-year sales of $1.70 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.73 billion. For the next year, analysts expect that the business will post sales of $1.79 billion, with estimates ranging from $1.71 billion to $1.89 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Keane Group.

Keane Group (NYSE:FRAC) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.11. The business had revenue of $427.70 million during the quarter, compared to the consensus estimate of $413.63 million. Keane Group had a net margin of 0.53% and a return on equity of 7.21%. The company’s revenue was down 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS.

Several analysts have recently weighed in on FRAC shares. Zacks Investment Research downgraded shares of Keane Group from a “buy” rating to a “hold” rating in a research report on Tuesday. AltaCorp Capital restated a “sector perform” rating on shares of Keane Group in a research report on Thursday, June 20th. ValuEngine upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, TheStreet downgraded shares of Keane Group from a “c-” rating to a “d+” rating in a research report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $15.77.

Shares of NYSE:FRAC traded up $0.26 during trading on Monday, hitting $5.31. 1,359,200 shares of the company were exchanged, compared to its average volume of 2,072,709. The stock has a market capitalization of $525.97 million, a P/E ratio of 5.77 and a beta of 1.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.56 and a quick ratio of 1.44. Keane Group has a 12-month low of $4.86 and a 12-month high of $13.95. The firm’s 50 day moving average price is $5.99 and its 200-day moving average price is $8.85.

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in Keane Group in the 2nd quarter valued at about $68,000. Point72 Hong Kong Ltd grew its stake in Keane Group by 266.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 11,307 shares of the company’s stock valued at $76,000 after acquiring an additional 8,225 shares during the last quarter. Legal & General Group Plc grew its stake in Keane Group by 11.2% in the 4th quarter. Legal & General Group Plc now owns 9,769 shares of the company’s stock valued at $80,000 after acquiring an additional 986 shares during the last quarter. Aperio Group LLC acquired a new stake in Keane Group in the 2nd quarter valued at about $81,000. Finally, Bbva USA Bancshares Inc. grew its stake in Keane Group by 22.6% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 18,425 shares of the company’s stock valued at $124,000 after acquiring an additional 3,400 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

About Keane Group

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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Earnings History and Estimates for Keane Group (NYSE:FRAC)

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