$486.77 Million in Sales Expected for Keane Group Inc (FRAC) This Quarter
Equities research analysts expect Keane Group Inc (NASDAQ:FRAC) to report $486.77 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Keane Group’s earnings. The lowest sales estimate is $479.00 million and the highest is $494.53 million. The business is scheduled to issue its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Keane Group will report full-year sales of $486.77 million for the current financial year, with estimates ranging from $1.52 billion to $1.60 billion. For the next year, analysts expect that the company will report sales of $2.15 billion per share, with estimates ranging from $2.11 billion to $2.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Keane Group.
Keane Group (NASDAQ:FRAC) last issued its quarterly earnings data on Monday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The business had revenue of $323.10 million for the quarter, compared to the consensus estimate of $316.71 million. Keane Group’s quarterly revenue was up 34.5% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on FRAC shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Keane Group in a research note on Wednesday, June 21st. Citigroup Inc. cut shares of Keane Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $14.00 in a research report on Wednesday, August 30th. Iberia Capital began coverage on shares of Keane Group in a research report on Friday, June 23rd. They set an “outperform” rating and a $19.00 price target for the company. Capital One Financial Corporation reissued an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. Finally, Susquehanna Bancshares Inc began coverage on shares of Keane Group in a research report on Monday, June 5th. They set a “neutral” rating and a $17.00 price target for the company. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Keane Group currently has an average rating of “Buy” and an average target price of $21.07.
Keane Group (NASDAQ:FRAC) traded up 0.78% during trading on Friday, reaching $12.89. The company had a trading volume of 782,105 shares. The stock’s market cap is $1.44 billion. Keane Group has a 52-week low of $12.42 and a 52-week high of $22.93. The company has a 50-day moving average price of $14.05 and a 200 day moving average price of $15.03.
A number of institutional investors and hedge funds have recently made changes to their positions in FRAC. Nationwide Fund Advisors purchased a new stake in Keane Group during the 1st quarter valued at $119,000. First Mercantile Trust Co. purchased a new stake in shares of Keane Group in the 1st quarter worth about $133,000. Strs Ohio purchased a new stake in shares of Keane Group in the 1st quarter worth about $131,000. Russell Investments Group Ltd. purchased a new stake in shares of Keane Group in the 1st quarter worth about $759,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Keane Group in the 1st quarter worth about $1,542,000.
Keane Group Company Profile
Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.
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