Wall Street brokerages forecast that Basic Energy Services, Inc. (NYSE:BAS) will post ($0.49) earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Basic Energy Services’ earnings. The highest EPS estimate is ($0.48) and the lowest is ($0.50). Basic Energy Services posted earnings of ($744.44) per share in the same quarter last year, which would indicate a positive year over year growth rate of 99.9%. The company is scheduled to announce its next earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that Basic Energy Services will report full-year earnings of ($1.80) per share for the current year, with EPS estimates ranging from ($1.88) to ($1.72). For the next year, analysts anticipate that the firm will report earnings of $0.23 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Basic Energy Services.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday. Credit Suisse Group assumed coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a “neutral” rating on the stock. BidaskClub upgraded Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies restated a “neutral” rating and issued a $26.50 price objective (down previously from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Seaport Global Securities lowered Basic Energy Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Basic Energy Services currently has an average rating of “Hold” and an average price target of $27.63.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://stocknewstimes.com/2017/08/15/0-49-eps-expected-for-basic-energy-services-inc-nysebas-this-quarter-updated-updated.html.
Several institutional investors have recently made changes to their positions in BAS. Parkwood LLC raised its position in shares of Basic Energy Services by 162.1% in the second quarter. Parkwood LLC now owns 57,770 shares of the oil and gas company’s stock worth $1,438,000 after buying an additional 35,730 shares during the period. Russell Investments Group Ltd. raised its position in shares of Basic Energy Services by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock worth $303,000 after buying an additional 853 shares during the period. Peregrine Capital Management LLC raised its position in shares of Basic Energy Services by 19.2% in the second quarter. Peregrine Capital Management LLC now owns 257,374 shares of the oil and gas company’s stock worth $6,409,000 after buying an additional 41,409 shares during the period. UBS Oconnor LLC purchased a new position in shares of Basic Energy Services during the first quarter worth $3,985,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Basic Energy Services during the first quarter worth $4,057,000. Institutional investors own 97.40% of the company’s stock.
Shares of Basic Energy Services (BAS) traded up 0.21% during midday trading on Monday, reaching $28.67. The company’s stock had a trading volume of 331,743 shares. The company’s market capitalization is $745.39 million. The stock has a 50 day moving average price of $25.40 and a 200-day moving average price of $31.82. Basic Energy Services has a 52-week low of $19.79 and a 52-week high of $44.81.
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.
Get a free copy of the Zacks research report on Basic Energy Services (BAS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Basic Energy Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Basic Energy Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
