Zacks: Brokerages Expect C&J Energy Services Inc (NYSE:CJ) Will Post Quarterly Sales of $519.13 Million

Equities research analysts predict that C&J Energy Services Inc (NYSE:CJ) will announce $519.13 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for C&J Energy Services’ earnings, with estimates ranging from $481.10 million to $545.70 million. C&J Energy Services posted sales of $610.52 million during the same quarter last year, which suggests a negative year over year growth rate of 15%. The company is scheduled to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that C&J Energy Services will report full-year sales of $2.10 billion for the current fiscal year, with estimates ranging from $1.95 billion to $2.25 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.29 billion, with estimates ranging from $2.03 billion to $2.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow C&J Energy Services.

C&J Energy Services (NYSE:CJ) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.14. The company had revenue of $510.80 million during the quarter, compared to analyst estimates of $477.56 million. C&J Energy Services had a negative net margin of 7.99% and a positive return on equity of 0.64%. C&J Energy Services’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS.

Several brokerages recently issued reports on CJ. Piper Jaffray Companies set a $21.00 price target on shares of C&J Energy Services and gave the stock a “buy” rating in a research note on Monday, May 20th. Morgan Stanley set a $20.00 price target on shares of C&J Energy Services and gave the stock a “hold” rating in a research note on Monday, May 13th. Citigroup upgraded shares of C&J Energy Services from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $20.00 in a research note on Monday, May 13th. Credit Suisse Group set a $15.00 price target on shares of C&J Energy Services and gave the stock a “hold” rating in a research note on Thursday, March 21st. Finally, GMP Securities reiterated a “buy” rating and issued a $4.00 price target on shares of C&J Energy Services in a research note on Sunday, March 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.14.

A number of large investors have recently added to or reduced their stakes in CJ. Pzena Investment Management LLC boosted its holdings in shares of C&J Energy Services by 112.6% in the first quarter. Pzena Investment Management LLC now owns 2,492,932 shares of the company’s stock worth $38,690,000 after buying an additional 1,320,597 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of C&J Energy Services by 141.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,734,420 shares of the company’s stock valued at $26,919,000 after acquiring an additional 1,017,473 shares in the last quarter. Oaktree Capital Management LP acquired a new position in shares of C&J Energy Services during the fourth quarter valued at about $17,887,000. Van ECK Associates Corp increased its holdings in shares of C&J Energy Services by 50.9% during the fourth quarter. Van ECK Associates Corp now owns 1,097,925 shares of the company’s stock valued at $14,822,000 after acquiring an additional 370,284 shares in the last quarter. Finally, Schneider Capital Management Corp increased its holdings in shares of C&J Energy Services by 19.3% during the first quarter. Schneider Capital Management Corp now owns 1,091,425 shares of the company’s stock valued at $16,939,000 after acquiring an additional 176,569 shares in the last quarter.

Shares of C&J Energy Services stock traded down $0.48 during trading on Friday, hitting $10.72. The company’s stock had a trading volume of 641,882 shares, compared to its average volume of 856,376. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.88. The firm has a market cap of $739.87 million, a price-to-earnings ratio of 13.23 and a beta of 1.47. C&J Energy Services has a 52 week low of $10.52 and a 52 week high of $24.85.

About C&J Energy Services

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services and technologies to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments.

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Earnings History and Estimates for C&J Energy Services (NYSE:CJ)

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