Zacks: Analysts Expect CARBO Ceramics Inc. (CRR) Will Post Earnings of -$0.34 Per Share

Wall Street analysts forecast that CARBO Ceramics Inc. (NYSE:CRR) will post earnings of ($0.34) per share for the current quarter, Zacks reports. Two analysts have provided estimates for CARBO Ceramics’ earnings. The highest EPS estimate is ($0.25) and the lowest is ($0.41). CARBO Ceramics reported earnings of ($0.97) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 64.9%. The company is scheduled to issue its next earnings results on Thursday, October 25th.

On average, analysts expect that CARBO Ceramics will report full-year earnings of ($1.97) per share for the current fiscal year, with EPS estimates ranging from ($2.13) to ($1.73). For the next financial year, analysts forecast that the business will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.67) to $0.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow CARBO Ceramics.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The company had revenue of $58.00 million for the quarter, compared to analysts’ expectations of $62.51 million. CARBO Ceramics had a negative net margin of 49.19% and a negative return on equity of 20.28%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.93) earnings per share.

Several research analysts recently weighed in on the company. OTR Global cut CARBO Ceramics to an “underperform” rating in a research report on Tuesday, July 24th. ValuEngine upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.81.

CRR stock traded down $0.05 during trading on Thursday, hitting $8.33. 219,846 shares of the company traded hands, compared to its average volume of 533,491. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.16. The stock has a market cap of $221.37 million, a P/E ratio of -2.21 and a beta of 1.50. CARBO Ceramics has a 1 year low of $6.10 and a 1 year high of $12.69.

Institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. increased its position in shares of CARBO Ceramics by 38.7% in the first quarter. Brown Advisory Inc. now owns 21,176 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 5,910 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of CARBO Ceramics in the first quarter valued at approximately $224,000. Bank of America Corp DE increased its position in shares of CARBO Ceramics by 66.3% in the second quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 9,780 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of CARBO Ceramics in the second quarter valued at approximately $232,000. Finally, Spark Investment Management LLC purchased a new stake in shares of CARBO Ceramics in the second quarter valued at approximately $304,000. Institutional investors and hedge funds own 81.27% of the company’s stock.

About CARBO Ceramics

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

Featured Article: Risk Tolerance

Get a free copy of the Zacks research report on CARBO Ceramics (CRR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CARBO Ceramics (NYSE:CRR)

Receive News & Ratings for CARBO Ceramics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CARBO Ceramics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply