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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Keane Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keane Group and related companies with MarketBeat.com's FREE daily email newsletter.