Q3 2019 EPS Estimates for C&J Energy Services Inc Decreased by Seaport Global Securities (NYSE:CJ)

C&J Energy Services Inc (NYSE:CJ) – Seaport Global Securities dropped their Q3 2019 earnings per share (EPS) estimates for C&J Energy Services in a note issued to investors on Wednesday, August 14th. Seaport Global Securities analyst M. Urban now forecasts that the company will post earnings of ($0.25) per share for the quarter, down from their prior forecast of $0.27. Seaport Global Securities also issued estimates for C&J Energy Services’ Q4 2019 earnings at ($0.40) EPS, FY2019 earnings at ($1.14) EPS, Q1 2020 earnings at ($0.48) EPS, Q2 2020 earnings at ($0.26) EPS, Q3 2020 earnings at $0.02 EPS, Q4 2020 earnings at ($0.03) EPS and FY2020 earnings at ($0.75) EPS.

C&J Energy Services (NYSE:CJ) last announced its earnings results on Tuesday, August 6th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.15). C&J Energy Services had a negative net margin of 15.12% and a negative return on equity of 3.35%. The company had revenue of $501.08 million during the quarter, compared to the consensus estimate of $535.43 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The business’s revenue was down 17.9% on a year-over-year basis.

Several other brokerages have also recently commented on CJ. Citigroup upgraded C&J Energy Services from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $20.00 in a report on Monday, May 13th. Zacks Investment Research upgraded C&J Energy Services from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded C&J Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group upgraded C&J Energy Services from a “hold” rating to a “buy” rating and reduced their target price for the company from $14.00 to $13.50 in a report on Tuesday. Finally, Raymond James reiterated a “hold” rating and issued a $4.00 target price on shares of C&J Energy Services in a report on Wednesday, July 31st. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. C&J Energy Services currently has an average rating of “Hold” and a consensus price target of $12.92.

Shares of CJ stock opened at $9.72 on Monday. The business’s 50 day simple moving average is $10.38 and its 200 day simple moving average is $13.64. C&J Energy Services has a one year low of $8.69 and a one year high of $24.57. The stock has a market capitalization of $628.62 million, a PE ratio of 12.00 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 1.92.

A number of institutional investors and hedge funds have recently modified their holdings of CJ. Arizona State Retirement System raised its position in shares of C&J Energy Services by 48.2% during the first quarter. Arizona State Retirement System now owns 94,776 shares of the company’s stock worth $1,471,000 after purchasing an additional 30,803 shares during the period. Norges Bank acquired a new position in shares of C&J Energy Services during the fourth quarter worth approximately $9,235,000. AlphaCrest Capital Management LLC acquired a new position in shares of C&J Energy Services during the first quarter worth approximately $601,000. Dimensional Fund Advisors LP acquired a new position in shares of C&J Energy Services during the fourth quarter worth approximately $9,679,000. Finally, Everence Capital Management Inc. acquired a new position in shares of C&J Energy Services during the first quarter worth approximately $223,000.

C&J Energy Services Company Profile

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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