National Energy Services Reunited (NASDAQ:NESR) Releases Earnings Results, Hits Expectations

National Energy Services Reunited (NASDAQ:NESR) issued its earnings results on Wednesday. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30, Zacks reports. The company had revenue of $343.68 million for the quarter, compared to analysts’ expectations of $339.84 million.

National Energy Services Reunited Trading Down 7.8 %

Shares of National Energy Services Reunited stock opened at $7.46 on Friday. The business has a 50 day moving average of $8.85 and a 200 day moving average of $8.97. National Energy Services Reunited has a 52 week low of $7.30 and a 52 week high of $10.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NESR. Benchmark initiated coverage on National Energy Services Reunited in a research note on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They set an “overweight” rating and a $13.00 price target for the company. Finally, Barclays boosted their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.