Brokerages forecast that CSI Compressco LP (NASDAQ:CCLP) will report sales of $76.23 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for CSI Compressco’s earnings, with the highest sales estimate coming in at $78.69 million and the lowest estimate coming in at $73.46 million. CSI Compressco reported sales of $70.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.8%. The business is scheduled to report its next earnings results on Friday, November 3rd.
According to Zacks, analysts expect that CSI Compressco will report full year sales of $76.23 million for the current financial year, with estimates ranging from $285.57 million to $309.00 million. For the next year, analysts expect that the business will report sales of $348.46 million per share, with estimates ranging from $316.48 million to $394.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow CSI Compressco.
CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.04. The business had revenue of $75.32 million during the quarter, compared to the consensus estimate of $66.64 million. CSI Compressco had a negative return on equity of 36.43% and a negative net margin of 17.01%.
Several research analysts have recently issued reports on CCLP shares. Stifel Nicolaus reduced their price objective on CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Zacks Investment Research cut CSI Compressco from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Royal Bank Of Canada reduced their price objective on CSI Compressco from $12.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, April 24th. Finally, Capital One Financial Corporation restated an “equal weight” rating on shares of CSI Compressco in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. CSI Compressco currently has an average rating of “Hold” and an average target price of $9.50.
Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of CSI Compressco by 91.7% in the second quarter. FMR LLC now owns 1,353,231 shares of the oil and gas company’s stock valued at $6,563,000 after buying an additional 647,176 shares during the last quarter. Airain ltd acquired a new stake in shares of CSI Compressco during the second quarter valued at approximately $796,000. OppenheimerFunds Inc. raised its stake in shares of CSI Compressco by 1.8% in the first quarter. OppenheimerFunds Inc. now owns 3,050,772 shares of the oil and gas company’s stock valued at $29,898,000 after buying an additional 54,809 shares during the last quarter. Parkwood LLC raised its stake in shares of CSI Compressco by 69.8% in the second quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 45,900 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of CSI Compressco by 99.3% in the first quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock valued at $754,000 after buying an additional 38,319 shares during the last quarter. 28.24% of the stock is currently owned by institutional investors.
CSI Compressco (NASDAQ:CCLP) traded down 2.35% during midday trading on Friday, hitting $4.57. The company’s stock had a trading volume of 52,729 shares. CSI Compressco has a one year low of $4.12 and a one year high of $13.54. The company’s 50-day moving average is $4.83 and its 200 day moving average is $7.48.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Tuesday, August 1st were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 16.41%. The ex-dividend date was Friday, July 28th. CSI Compressco’s payout ratio is currently -50.00%.
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About CSI Compressco
CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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