C&J Energy Services Inc (NYSE:CJ) – Investment analysts at Piper Jaffray Companies lowered their Q3 2018 earnings estimates for C&J Energy Services in a research note issued on Sunday, September 9th, according to Zacks Investment Research. Piper Jaffray Companies analyst J. Daniel now anticipates that the company will post earnings per share of $0.16 for the quarter, down from their prior estimate of $0.33. Piper Jaffray Companies has a “Buy” rating and a $34.00 price target on the stock. Piper Jaffray Companies also issued estimates for C&J Energy Services’ Q4 2018 earnings at ($0.04) EPS, Q1 2019 earnings at ($0.10) EPS, Q2 2019 earnings at ($0.07) EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.20 EPS and FY2019 earnings at $0.16 EPS.
C&J Energy Services (NYSE:CJ) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). C&J Energy Services had a return on equity of 7.52% and a net margin of 5.56%. The firm had revenue of $610.52 million during the quarter, compared to analysts’ expectations of $598.66 million. During the same quarter in the previous year, the business earned ($0.20) earnings per share. The company’s revenue for the quarter was up 56.5% compared to the same quarter last year.
Other research analysts have also recently issued reports about the company. Citigroup reduced their price objective on C&J Energy Services from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 31st. Guggenheim cut C&J Energy Services from a “buy” rating to a “neutral” rating in a research report on Friday, July 6th. ValuEngine cut C&J Energy Services from a “sell” rating to a “strong sell” rating in a research report on Friday, June 15th. Zacks Investment Research cut C&J Energy Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 4th. Finally, Morgan Stanley cut C&J Energy Services from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.08.
Shares of NYSE:CJ traded up $0.02 during trading on Wednesday, hitting $21.52. The stock had a trading volume of 881,499 shares, compared to its average volume of 1,024,825. C&J Energy Services has a 12-month low of $18.86 and a 12-month high of $36.57. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -153.71 and a beta of 0.64.
Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in C&J Energy Services by 81.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,876 shares of the company’s stock valued at $152,000 after purchasing an additional 2,630 shares during the period. Neuburgh Advisers LLC acquired a new stake in C&J Energy Services in the second quarter valued at approximately $176,000. NumerixS Investment Technologies Inc acquired a new stake in C&J Energy Services in the second quarter valued at approximately $191,000. Riverhead Capital Management LLC acquired a new stake in C&J Energy Services in the second quarter valued at approximately $194,000. Finally, Koch Industries Inc. acquired a new stake in C&J Energy Services in the first quarter valued at approximately $205,000. 99.75% of the stock is currently owned by institutional investors.
C&J Energy Services Company Profile
C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.
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