Analysts forecast that Basic Energy Services Inc (NYSE:BAS) will post sales of $202.40 million for the current quarter, Zacks reports. Three analysts have provided estimates for Basic Energy Services’ earnings, with the highest sales estimate coming in at $204.20 million and the lowest estimate coming in at $199.00 million. Basic Energy Services reported sales of $234.67 million in the same quarter last year, which would suggest a negative year over year growth rate of 13.8%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, May 9th.
According to Zacks, analysts expect that Basic Energy Services will report full year sales of $943.43 million for the current year, with estimates ranging from $904.00 million to $981.30 million. For the next financial year, analysts forecast that the firm will post sales of $1.10 billion, with estimates ranging from $1.04 billion to $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Basic Energy Services.
Basic Energy Services (NYSE:BAS) last issued its quarterly earnings results on Thursday, February 28th. The oil and gas company reported ($0.97) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.28) by $0.31. The firm had revenue of $230.35 million for the quarter, compared to analysts’ expectations of $233.00 million. Basic Energy Services had a negative return on equity of 35.67% and a negative net margin of 14.99%.
In related news, VP Brett J. Taylor sold 15,711 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $4.73, for a total value of $74,313.03. Following the transaction, the vice president now owns 15,737 shares in the company, valued at approximately $74,436.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.95% of the company’s stock.
A number of hedge funds have recently modified their holdings of BAS. Barclays PLC increased its position in Basic Energy Services by 2,249.1% during the 4th quarter. Barclays PLC now owns 9,960 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 9,536 shares during the period. Stone Ridge Asset Management LLC acquired a new position in Basic Energy Services during the 4th quarter worth approximately $42,000. Virtu Financial LLC acquired a new position in Basic Energy Services during the 1st quarter worth approximately $45,000. SG Americas Securities LLC acquired a new position in Basic Energy Services during the 4th quarter worth approximately $49,000. Finally, Acadian Asset Management LLC acquired a new position in Basic Energy Services during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
BAS stock traded down $0.05 during trading on Friday, hitting $3.16. The company had a trading volume of 252,762 shares, compared to its average volume of 308,703. The stock has a market capitalization of $85.18 million, a PE ratio of -0.87 and a beta of 2.71. Basic Energy Services has a 1-year low of $3.02 and a 1-year high of $17.43. The company has a quick ratio of 1.40, a current ratio of 1.60 and a debt-to-equity ratio of 1.47.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. The company operates through Completion and Remedial Services, Well Servicing, Water Logistics, and Contract Drilling segments. The Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; underbalanced drilling in low pressure and fluid sensitive reservoirs; and cased-hole wireline services.
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