Analysts predict that Basic Energy Services, Inc. (NYSE:BAS) will announce ($0.86) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Basic Energy Services’ earnings. The highest EPS estimate is ($0.77) and the lowest is ($0.93). Basic Energy Services reported earnings per share of ($733.33) during the same quarter last year, which indicates a positive year-over-year growth rate of 99.9%. The company is scheduled to report its next earnings report after the market closes on Thursday, April 20th.
According to Zacks, analysts expect that Basic Energy Services will report full-year earnings of ($1.95) per share for the current financial year, with EPS estimates ranging from ($2.28) to ($1.51). For the next fiscal year, analysts forecast that the firm will report earnings of $0.37 per share, with EPS estimates ranging from $0.00 to $0.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Basic Energy Services.
Basic Energy Services (NYSE:BAS) last released its quarterly earnings results on Thursday, March 23rd. The oil and gas company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.04. The business earned $155.53 million during the quarter, compared to analyst estimates of $156.22 million. Basic Energy Services had a negative net margin of 57.96% and a negative return on equity of 380.17%.
A number of analysts recently commented on the company. Deutsche Bank AG upgraded Basic Energy Services from a “hold” rating to a “buy” rating in a research report on Thursday, January 19th. Capital One Financial Corp. upgraded Basic Energy Services from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, December 27th. Zacks Investment Research upgraded Basic Energy Services from a “hold” rating to a “buy” rating in a research report on Friday, December 30th. Johnson Rice upgraded Basic Energy Services from a “hold” rating to an “accumulate” rating in a research report on Thursday, December 29th. Finally, Nomura assumed coverage on Basic Energy Services in a research report on Wednesday. They issued a “buy” rating and a $51.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.75.
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In other news, major shareholder Silver Point Capital L.P. sold 131,382 shares of Basic Energy Services stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $41.01, for a total transaction of $5,387,975.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ascribe Capital Llc sold 122,000 shares of Basic Energy Services stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $41.64, for a total value of $5,080,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,199,836 shares of company stock worth $50,449,169 in the last quarter. 11.10% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in BAS. Russell Investments Group Ltd. purchased a new stake in Basic Energy Services during the fourth quarter valued at approximately $243,000. Hudson Bay Capital Management LP purchased a new stake in Basic Energy Services during the fourth quarter valued at approximately $354,000. Thomson Horstmann & Bryant Inc. purchased a new stake in Basic Energy Services during the first quarter valued at approximately $567,000. GLG LLC purchased a new stake in Basic Energy Services during the fourth quarter valued at approximately $1,237,000. Finally, GLG Partners LP purchased a new stake in Basic Energy Services during the fourth quarter valued at approximately $1,310,000.
Basic Energy Services (NYSE:BAS) traded down 0.81% during trading on Monday, hitting $30.62. 751,009 shares of the stock traded hands. The company has a 50-day moving average price of $33.40 and a 200 day moving average price of $36.78. Basic Energy Services has a one year low of $29.06 and a one year high of $44.81. The stock’s market cap is $738.25 million.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.
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