NCS Multistage Surges 12.8% to $54.55 as Crude Hits $90
NCS Multistage shares jumped 12.8% to close at $54.55 on volume above average, after a 25% gain over four weeks as crude oil nears $90 per barrel. Analysts have lifted the consensus EPS estimate by 12% over the past month ahead of projected Q1 EPS of $1.49 and $51.6 million revenues.
1. Stock Price Rally
NCS Multistage shares rallied 12.8% to close at $54.55 on March 10, driven by above-average trading volume and extending a 25% rise over the past month.
2. Operational and Market Drivers
The company’s global footprint across North America, Middle East, Asia, Europe/CIS/Africa, and Latin America supports its well construction and completion technologies business, as surging crude oil prices near $90 per barrel boost demand for oilfield equipment and services.
3. Analyst Estimates and Outlook
Consensus EPS estimate for the quarter has been raised 12% over the last 30 days, with projected earnings of $1.49 per share and revenues of $51.62 million, reflecting a 3.2% year-over-year revenue increase.