Wall Street analysts expect that CSI Compressco LP (NASDAQ:CCLP) will report sales of $66.81 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CSI Compressco’s earnings, with the lowest sales estimate coming in at $66.19 million and the highest estimate coming in at $67.24 million. CSI Compressco reported sales of $76.09 million during the same quarter last year, which indicates a negative year over year growth rate of 12.2%. The firm is scheduled to issue its next earnings results before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that CSI Compressco will report full-year sales of $66.81 million for the current fiscal year, with estimates ranging from $273.48 million to $287.72 million. For the next fiscal year, analysts anticipate that the business will report sales of $324.60 million per share, with estimates ranging from $301.00 million to $361.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Tuesday, May 9th. The oil and gas company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.27. The company had revenue of $65.55 million for the quarter, compared to the consensus estimate of $70.55 million. CSI Compressco had a negative return on equity of 30.77% and a negative net margin of 16.39%.
A number of equities research analysts recently issued reports on CCLP shares. Royal Bank Of Canada reduced their price target on CSI Compressco from $12.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 24th. Zacks Investment Research cut CSI Compressco from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Finally, Stifel Nicolaus cut their target price on CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th.
Large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in CSI Compressco during the first quarter valued at $136,000. Raymond James Trust N.A. boosted its stake in CSI Compressco by 4.5% in the first quarter. Raymond James Trust N.A. now owns 27,800 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 1,200 shares during the last quarter. Robotti Robert boosted its stake in CSI Compressco by 38.6% in the first quarter. Robotti Robert now owns 32,320 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 9,000 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in CSI Compressco by 75.0% in the first quarter. Texas Yale Capital Corp. now owns 35,000 shares of the oil and gas company’s stock valued at $343,000 after buying an additional 15,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in CSI Compressco by 77.0% in the fourth quarter. Renaissance Technologies LLC now owns 38,593 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 16,793 shares during the last quarter. Hedge funds and other institutional investors own 28.53% of the company’s stock.
CSI Compressco (NASDAQ:CCLP) traded up 1.17% during trading on Wednesday, hitting $4.97. The company had a trading volume of 71,963 shares. CSI Compressco has a one year low of $4.12 and a one year high of $13.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Tuesday, August 1st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 15.09%. The ex-dividend date of this dividend is Friday, July 28th. CSI Compressco’s payout ratio is presently -52.45%.
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CSI Compressco Company Profile
CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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