Brokerages expect that Keane Group Inc (NYSE:FRAC) will post sales of $568.24 million for the current quarter, according to Zacks. Five analysts have made estimates for Keane Group’s earnings, with estimates ranging from $560.20 million to $578.00 million. Keane Group posted sales of $323.14 million during the same quarter last year, which suggests a positive year over year growth rate of 75.8%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, July 30th.
On average, analysts expect that Keane Group will report full-year sales of $2.33 billion for the current year, with estimates ranging from $2.22 billion to $2.42 billion. For the next financial year, analysts forecast that the business will post sales of $2.44 billion per share, with estimates ranging from $2.18 billion to $2.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Keane Group.
Keane Group (NYSE:FRAC) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The company had revenue of $513.00 million during the quarter, compared to analysts’ expectations of $500.02 million. Keane Group had a return on equity of 13.67% and a net margin of 1.57%. The company’s revenue was up 113.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.70) EPS.
Several research analysts recently commented on FRAC shares. BMO Capital Markets set a $18.00 price target on Keane Group and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Citigroup dropped their target price on Keane Group from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, July 9th. Cowen set a $15.00 target price on Keane Group and gave the company a “buy” rating in a research report on Friday, April 13th. Goldman Sachs Group initiated coverage on Keane Group in a research report on Monday, June 11th. They set a “buy” rating and a $21.50 target price for the company. Finally, TheStreet lowered Keane Group from a “c-” rating to a “d” rating in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.09.
In other news, CFO Gregory Powell sold 20,956 shares of Keane Group stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $16.02, for a total transaction of $335,715.12. Following the completion of the sale, the chief financial officer now owns 43,554 shares of the company’s stock, valued at $697,735.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Paul M. Jr. Debonis sold 10,936 shares of Keane Group stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $16.91, for a total transaction of $184,927.76. Following the sale, the chief operating officer now directly owns 33,367 shares of the company’s stock, valued at approximately $564,235.97. The disclosure for this sale can be found here. Insiders have sold 65,706 shares of company stock valued at $1,062,681 in the last ninety days. Insiders own 0.64% of the company’s stock.
Several institutional investors have recently bought and sold shares of FRAC. Fisher Asset Management LLC bought a new stake in shares of Keane Group during the first quarter valued at approximately $40,683,000. Millennium Management LLC raised its stake in shares of Keane Group by 81.7% during the first quarter. Millennium Management LLC now owns 3,634,818 shares of the company’s stock valued at $53,795,000 after acquiring an additional 1,633,853 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Keane Group by 1,557.7% during the first quarter. Citadel Advisors LLC now owns 1,688,058 shares of the company’s stock valued at $24,984,000 after acquiring an additional 1,586,229 shares in the last quarter. BlackRock Inc. raised its stake in shares of Keane Group by 36.7% during the first quarter. BlackRock Inc. now owns 3,293,731 shares of the company’s stock valued at $48,748,000 after acquiring an additional 884,434 shares in the last quarter. Finally, Viking Fund Management LLC bought a new stake in shares of Keane Group during the second quarter valued at approximately $7,655,000. 81.17% of the stock is owned by hedge funds and other institutional investors.
Keane Group traded up $0.69, hitting $13.23, on Monday, according to Marketbeat.com. The company had a trading volume of 1,767,371 shares, compared to its average volume of 1,495,585. The firm has a market cap of $1.36 billion, a P/E ratio of 82.69, a P/E/G ratio of 0.24 and a beta of -0.47. Keane Group has a 12-month low of $11.90 and a 12-month high of $19.83. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54.
Keane Group Company Profile
Keane Group, Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions, as well as other value-added services. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.
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