$426.58 Million in Sales Expected for Keane Group Inc (NYSE:FRAC) This Quarter

Brokerages expect Keane Group Inc (NYSE:FRAC) to post $426.58 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Keane Group’s earnings. The highest sales estimate is $484.20 million and the lowest is $409.31 million. Keane Group posted sales of $578.53 million in the same quarter last year, which suggests a negative year over year growth rate of 26.3%. The firm is scheduled to report its next earnings results on Monday, July 29th.

According to Zacks, analysts expect that Keane Group will report full year sales of $1.73 billion for the current year, with estimates ranging from $1.65 billion to $1.91 billion. For the next year, analysts anticipate that the business will report sales of $1.96 billion, with estimates ranging from $1.76 billion to $2.26 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Keane Group.

Keane Group (NYSE:FRAC) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. Keane Group had a return on equity of 13.57% and a net margin of 2.24%. The company had revenue of $421.70 million during the quarter, compared to analyst estimates of $412.79 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Keane Group’s revenue was down 17.8% on a year-over-year basis.

FRAC has been the subject of several recent analyst reports. R. F. Lafferty reissued a “buy” rating and set a $26.00 price objective on shares of Keane Group in a report on Tuesday, February 26th. Piper Jaffray Companies set a $17.00 price objective on Keane Group and gave the stock a “buy” rating in a report on Tuesday, March 5th. Zacks Investment Research raised Keane Group from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, March 5th. Goldman Sachs Group initiated coverage on Keane Group in a report on Sunday, March 10th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Jefferies Financial Group raised Keane Group from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $16.62.

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in Keane Group in the fourth quarter valued at approximately $69,000. Great West Life Assurance Co. Can lifted its position in Keane Group by 169.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 8,892 shares of the company’s stock valued at $70,000 after purchasing an additional 5,592 shares during the last quarter. Legal & General Group Plc lifted its position in Keane Group by 11.2% in the fourth quarter. Legal & General Group Plc now owns 9,769 shares of the company’s stock valued at $80,000 after purchasing an additional 986 shares during the last quarter. Prudential Financial Inc. bought a new stake in Keane Group in the fourth quarter valued at approximately $103,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Keane Group in the fourth quarter valued at approximately $108,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE FRAC traded up $0.23 during midday trading on Tuesday, hitting $7.58. 1,077,741 shares of the company’s stock were exchanged, compared to its average volume of 763,893. Keane Group has a 12-month low of $6.66 and a 12-month high of $14.60. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $746.63 million, a price-to-earnings ratio of 8.24 and a beta of 1.51.

Keane Group Company Profile

Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.

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Earnings History and Estimates for Keane Group (NYSE:FRAC)

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