National Energy Services Reunited (NASDAQ:NESR) Upgraded to Strong-Buy at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of National Energy Services Reunited (NASDAQ:NESR – Free Report) from a buy rating to a strong-buy rating in a report issued on Sunday morning.
A number of other equities analysts also recently commented on NESR. National Bank Financial set a $21.00 price objective on shares of National Energy Services Reunited in a report on Friday, January 9th. Bank of America initiated coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They set a “buy” rating for the company. UBS Group raised their price objective on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.86.
View Our Latest Research Report on National Energy Services Reunited
National Energy Services Reunited Price Performance
Shares of National Energy Services Reunited stock opened at $23.00 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89. National Energy Services Reunited has a fifty-two week low of $5.47 and a fifty-two week high of $26.85. The firm has a fifty day moving average price of $22.09 and a two-hundred day moving average price of $17.02. The company has a market cap of $2.32 billion, a PE ratio of 43.40, a price-to-earnings-growth ratio of 0.63 and a beta of 0.29.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The firm had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. National Energy Services Reunited’s revenue was up 15.9% on a year-over-year basis. Analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.
Institutional Investors Weigh In On National Energy Services Reunited
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NESR. Royal Bank of Canada increased its position in National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after acquiring an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of National Energy Services Reunited during the 3rd quarter worth approximately $34,000. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter worth approximately $34,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited during the 1st quarter worth approximately $48,000. Finally, Osaic Holdings Inc. acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter worth approximately $73,000. Institutional investors and hedge funds own 15.55% of the company’s stock.
National Energy Services Reunited Company Profile
National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.
NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.