BUZZ-National Energy Services jumps on Q2 revenue beat
NESR•Shares rise after Q2 revenue beat
Oilfield services provider National Energy Services' shares NESR.O rose 10.2% to $32 premarket after the company posted second-quarter revenue of $520.8 million, beating analysts' estimates of $447 million, according to data compiled by LSEG.
The company also reported second-quarter adjusted earnings per share of 44 cents, slightly higher than estimates of 43 cents.
Analyst coverage and stock performance
All seven brokerages covering the stock rate it “buy” or higher, with a median price target of $33.5.
As of the last close, the stock was up 85.31% year to date.
CEO says operations were not disrupted
CEO Sherif Foda said the Middle East conflict has not disrupted the company's operations or customer activity during the quarter.
