$524.76 Million in Sales Expected for C&J Energy Services Inc (CJ) This Quarter

Equities research analysts expect C&J Energy Services Inc (NYSE:CJ) to post $524.76 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for C&J Energy Services’ earnings, with the lowest sales estimate coming in at $495.59 million and the highest estimate coming in at $583.00 million. C&J Energy Services reported sales of $491.75 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The business is expected to announce its next earnings report on Thursday, February 28th.

On average, analysts expect that C&J Energy Services will report full-year sales of $2.26 billion for the current fiscal year, with estimates ranging from $2.23 billion to $2.36 billion. For the next year, analysts anticipate that the business will post sales of $2.32 billion, with estimates ranging from $2.21 billion to $2.53 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for C&J Energy Services.

C&J Energy Services (NYSE:CJ) last announced its earnings results on Thursday, November 1st. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $567.92 million for the quarter, compared to analyst estimates of $586.66 million. C&J Energy Services had a return on equity of 7.19% and a net margin of 5.24%. C&J Energy Services’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share.

Several research analysts recently weighed in on CJ shares. Johnson Rice started coverage on C&J Energy Services in a research report on Monday, September 17th. They set an “accumulate” rating and a $26.00 price target on the stock. Citigroup set a $22.00 price target on C&J Energy Services and gave the company a “hold” rating in a research report on Monday, November 12th. Bank of America upped their price target on C&J Energy Services from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. ValuEngine lowered C&J Energy Services from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 1st. Finally, Piper Jaffray Companies set a $29.00 price target on C&J Energy Services and gave the company a “buy” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $28.25.

A number of hedge funds and other institutional investors have recently modified their holdings of CJ. BlackRock Inc. boosted its stake in shares of C&J Energy Services by 139.2% during the 2nd quarter. BlackRock Inc. now owns 9,126,478 shares of the company’s stock worth $215,387,000 after acquiring an additional 5,310,518 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in C&J Energy Services by 134.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,041,980 shares of the company’s stock valued at $71,791,000 after purchasing an additional 1,745,390 shares during the period. Towle & Co. bought a new stake in C&J Energy Services during the 3rd quarter valued at approximately $23,996,000. Alliancebernstein L.P. boosted its stake in C&J Energy Services by 149.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,045,048 shares of the company’s stock valued at $21,737,000 after purchasing an additional 625,678 shares during the period. Finally, Feinberg Stephen boosted its stake in C&J Energy Services by 361.4% during the 2nd quarter. Feinberg Stephen now owns 691,612 shares of the company’s stock valued at $16,322,000 after purchasing an additional 541,712 shares during the period. Hedge funds and other institutional investors own 99.75% of the company’s stock.

NYSE:CJ traded down $0.44 during trading hours on Friday, hitting $14.94. 1,466,800 shares of the company’s stock traded hands, compared to its average volume of 1,010,494. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -106.71 and a beta of 0.73. C&J Energy Services has a twelve month low of $14.37 and a twelve month high of $36.57.

About C&J Energy Services

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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