Brokerages Expect CSI Compressco LP (CCLP) Will Announce Earnings of -$0.03 Per Share

Wall Street brokerages expect that CSI Compressco LP (NASDAQ:CCLP) will report earnings of ($0.03) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for CSI Compressco’s earnings. The highest EPS estimate is $0.03 and the lowest is ($0.07). CSI Compressco posted earnings per share of ($0.23) during the same quarter last year, which would suggest a positive year over year growth rate of 87%. The company is expected to issue its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that CSI Compressco will report full-year earnings of ($0.24) per share for the current fiscal year, with EPS estimates ranging from ($0.37) to ($0.10). For the next year, analysts expect that the firm will post earnings of $0.17 per share, with EPS estimates ranging from ($0.04) to $0.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for CSI Compressco.

CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.14). The business had revenue of $103.44 million during the quarter, compared to analyst estimates of $116.35 million. CSI Compressco had a negative net margin of 7.38% and a negative return on equity of 49.28%.

A number of equities research analysts recently issued reports on CCLP shares. Zacks Investment Research raised shares of CSI Compressco from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Wednesday, May 1st. ValuEngine raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. CSI Compressco currently has a consensus rating of “Hold” and an average price target of $3.50.

Shares of NASDAQ CCLP opened at $3.69 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 11.06. CSI Compressco has a 52 week low of $2.10 and a 52 week high of $6.45. The stock has a market capitalization of $166.61 million, a PE ratio of -4.29 and a beta of 2.26.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Tuesday, April 30th. CSI Compressco’s dividend payout ratio is currently -4.65%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. KG&L Capital Management LLC purchased a new position in CSI Compressco during the fourth quarter worth about $35,000. Virtu Financial LLC purchased a new position in CSI Compressco during the fourth quarter worth about $41,000. Marshall Wace LLP purchased a new position in CSI Compressco during the first quarter worth about $76,000. Geode Capital Management LLC boosted its stake in CSI Compressco by 42.7% during the fourth quarter. Geode Capital Management LLC now owns 39,094 shares of the oil and gas company’s stock worth $90,000 after buying an additional 11,701 shares during the period. Finally, Citigroup Inc. boosted its stake in CSI Compressco by 5,772.6% during the first quarter. Citigroup Inc. now owns 58,726 shares of the oil and gas company’s stock worth $167,000 after buying an additional 57,726 shares during the period. 29.75% of the stock is owned by hedge funds and other institutional investors.

About CSI Compressco

CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.

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Earnings History and Estimates for CSI Compressco (NASDAQ:CCLP)

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