Wall Street analysts forecast that CARBO Ceramics Inc. (NYSE:CRR) will post earnings of ($0.46) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for CARBO Ceramics’ earnings, with the lowest EPS estimate coming in at ($0.49) and the highest estimate coming in at ($0.43). CARBO Ceramics posted earnings of ($0.62) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 25.8%. The firm is expected to announce its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that CARBO Ceramics will report full-year earnings of ($2.20) per share for the current fiscal year, with EPS estimates ranging from ($2.34) to ($2.03). For the next financial year, analysts forecast that the firm will post earnings of ($1.16) per share, with EPS estimates ranging from ($1.62) to ($0.72). Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for CARBO Ceramics.
CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). CARBO Ceramics had a negative net margin of 37.95% and a negative return on equity of 21.61%. The company had revenue of $43.10 million for the quarter, compared to analyst estimates of $51.85 million. During the same period last year, the company posted ($0.55) earnings per share. The business’s revenue for the quarter was down 25.7% on a year-over-year basis.
Several research analysts recently commented on CRR shares. Zacks Investment Research raised CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. ValuEngine upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Jaffray Companies set a $1.00 price objective on CARBO Ceramics and gave the company a “hold” rating in a research note on Friday, July 26th.
Shares of NYSE CRR opened at $2.65 on Tuesday. The stock has a 50 day moving average price of $1.68 and a 200 day moving average price of $2.15. CARBO Ceramics has a 52 week low of $0.83 and a 52 week high of $8.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 3.21. The stock has a market capitalization of $83.72 million, a PE ratio of -0.99 and a beta of 1.73.
In other CARBO Ceramics news, CEO Gary A. Kolstad acquired 32,350 shares of the company’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $1.03 per share, for a total transaction of $33,320.50. Following the completion of the purchase, the chief executive officer now directly owns 495,000 shares of the company’s stock, valued at $509,850. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Don P. Conkle acquired 75,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $1.31 per share, for a total transaction of $98,250.00. Following the purchase, the vice president now directly owns 228,237 shares of the company’s stock, valued at $298,990.47. The disclosure for this purchase can be found here. Insiders acquired 162,350 shares of company stock worth $206,071 in the last 90 days. Corporate insiders own 15.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CRR. A.R.T. Advisors LLC bought a new position in shares of CARBO Ceramics during the second quarter worth approximately $37,000. SG Americas Securities LLC bought a new position in shares of CARBO Ceramics during the second quarter worth approximately $66,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CARBO Ceramics by 22.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,050 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 4,450 shares during the period. Paloma Partners Management Co bought a new position in shares of CARBO Ceramics during the second quarter worth approximately $86,000. Finally, Acadian Asset Management LLC increased its stake in shares of CARBO Ceramics by 352.6% during the second quarter. Acadian Asset Management LLC now owns 74,925 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 58,371 shares during the period. Institutional investors own 57.27% of the company’s stock.
CARBO Ceramics Company Profile
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.
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