$601.00 Million in Sales Expected for NexTier Oilfield Solutions Inc. (NYSE:NEX) This Quarter

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Wall Street brokerages expect NexTier Oilfield Solutions Inc. (NYSE:NEX) to report sales of $601.00 million for the current quarter, according to Zacks. Three analysts have made estimates for NexTier Oilfield Solutions’ earnings. The highest sales estimate is $639.30 million and the lowest is $561.90 million. NexTier Oilfield Solutions posted sales of $486.55 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.5%. The company is expected to announce its next quarterly earnings results on Monday, February 24th.

On average, analysts expect that NexTier Oilfield Solutions will report full-year sales of $1.88 billion for the current financial year, with estimates ranging from $1.86 billion to $1.90 billion. For the next financial year, analysts forecast that the company will report sales of $2.79 billion, with estimates ranging from $2.64 billion to $3.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow NexTier Oilfield Solutions.

NexTier Oilfield Solutions (NYSE:NEX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. NexTier Oilfield Solutions had a negative net margin of 0.96% and a positive return on equity of 2.73%. The firm had revenue of $443.95 million for the quarter, compared to analysts’ expectations of $443.32 million.

A number of equities research analysts have commented on the stock. Goldman Sachs Group upgraded shares of NexTier Oilfield Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $8.00 to $9.00 in a research note on Tuesday, December 17th. Citigroup assumed coverage on shares of NexTier Oilfield Solutions in a research note on Wednesday, November 27th. They set a “buy” rating and a $5.80 target price on the stock. Credit Suisse Group assumed coverage on shares of NexTier Oilfield Solutions in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $6.00 target price on the stock. AltaCorp Capital upgraded shares of NexTier Oilfield Solutions from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 18th. Finally, ValuEngine upgraded shares of NexTier Oilfield Solutions from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. NexTier Oilfield Solutions currently has an average rating of “Buy” and a consensus target price of $8.38.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dalton Greiner Hartman Maher & Co. purchased a new stake in NexTier Oilfield Solutions during the 4th quarter valued at approximately $11,108,000. Wedge Capital Management L L P NC purchased a new stake in NexTier Oilfield Solutions during the 4th quarter valued at approximately $173,000. Public Employees Retirement System of Ohio purchased a new stake in NexTier Oilfield Solutions during the 3rd quarter valued at approximately $156,000. Finally, Alpine Global Management LLC purchased a new stake in NexTier Oilfield Solutions during the 4th quarter valued at approximately $158,000. 48.73% of the stock is owned by institutional investors and hedge funds.

NYSE:NEX traded down $0.05 on Thursday, hitting $6.77. 1,788,099 shares of the company’s stock were exchanged, compared to its average volume of 1,373,189. The business has a 50-day simple moving average of $6.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.69 and a current ratio of 1.79. NexTier Oilfield Solutions has a 52 week low of $4.05 and a 52 week high of $12.50. The stock has a market capitalization of $1.43 billion, a P/E ratio of 56.83 and a beta of 1.55.

NexTier Oilfield Solutions Company Profile

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.

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

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