$511.66 Million in Sales Expected for Keane Group, Inc. (FRAC) This Quarter

Wall Street brokerages expect Keane Group, Inc. (NYSE:FRAC) to announce $511.66 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Keane Group’s earnings, with estimates ranging from $506.00 million to $518.99 million. The business is scheduled to report its next earnings results on Monday, March 19th.

On average, analysts expect that Keane Group will report full-year sales of $511.66 million for the current financial year, with estimates ranging from $1.55 billion to $1.59 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.31 billion per share, with estimates ranging from $2.13 billion to $2.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Keane Group.

Keane Group (NYSE:FRAC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $493.40 million. Keane Group had a negative return on equity of 19.19% and a negative net margin of 9.90%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year.

FRAC has been the topic of several research reports. Zacks Investment Research upgraded Keane Group from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, January 8th. Jefferies Group decreased their target price on Keane Group from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. BidaskClub upgraded Keane Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Barclays initiated coverage on Keane Group in a research report on Friday, October 6th. They issued an “underweight” rating and a $16.00 target price on the stock. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $18.00 target price on shares of Keane Group in a research report on Tuesday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $21.20.

A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in Keane Group by 9.6% during the third quarter. Janus Henderson Group PLC now owns 4,658,292 shares of the company’s stock worth $77,700,000 after buying an additional 408,200 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Keane Group by 43.5% during the third quarter. Point72 Asset Management L.P. now owns 2,621,725 shares of the company’s stock worth $43,730,000 after buying an additional 794,625 shares in the last quarter. Vanguard Group Inc. lifted its position in Keane Group by 10.3% during the second quarter. Vanguard Group Inc. now owns 2,461,921 shares of the company’s stock worth $39,391,000 after buying an additional 230,738 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Keane Group by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 2,103,945 shares of the company’s stock worth $33,662,000 after buying an additional 109,364 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Keane Group by 46.6% during the third quarter. Macquarie Group Ltd. now owns 1,284,492 shares of the company’s stock worth $21,425,000 after buying an additional 408,424 shares in the last quarter. Hedge funds and other institutional investors own 38.30% of the company’s stock.

Shares of Keane Group (NYSE:FRAC) traded down $0.47 during mid-day trading on Monday, reaching $19.03. The company’s stock had a trading volume of 958,300 shares, compared to its average volume of 1,058,244. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Keane Group has a 52 week low of $12.42 and a 52 week high of $22.93.

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Keane Group Company Profile

Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.

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