Loop Capital Initiates Coverage on Newpark Resources Inc to Hold

Loop Capital Initiates Coverage on Newpark Resources Inc(NYSE:NR). The shares have been rated Hold. The rating by Loop Capital was issued on Sep 30, 2016.

In a different note, On Jul 18, 2016, Credit Suisse said it Assumes its rating on Newpark Resources Inc. The shares have been rated ‘Outperform’ by the firm.

Newpark Resources Inc (NR) remained unchanged at the close of Tuesday session. Even as the volume increased to 6,90,660 ,the shares failed to make any impression and ended at 0 points or 0.00% at $7.36. The trading session commenced at $7.36 and the stock hit a high of $7.51 and touched $7.35 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $7.72 and the 52-week low is $3.35. The company has a market cap of $622 M and has approximately 8,45,19,550 outstanding shares.

Newpark Resources Inc(NR) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $115.31M. Analysts had an estimated revenue of $106.93M. Earnings per share were $-0.06. Analysts had estimated an EPS of $-0.15.

Newpark Resources Inc. is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems and Mats and Integrated Services. Fluids Systems segment provides drilling fluids solutions including technical drilling projects involving subsurface conditions such as horizontal directional geologically deep or deep water drilling to E&P customers in North America Europe the Middle East and Africa (EMEA) Latin America and Asia Pacific. The Mats and Integrated Services segment provides composite mat rentals well site construction and related site services to oil and gas customers at well production transportation and refinery locations in the United States. The Company manufactures DURA-BASE Advanced Composite Mats for use in its rental operations as well as for third-party sales.

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