Of the analysts surveyed by Reuters, 37% rated Emerge Energy Services (EMES) as a “buy” and 63% rated it as a “hold.” None of the analysts rated Emerge Energy Services as a “sell.” The median target price for Emerge Energy Services is $12, which implies an upside of 47% in a year from its current price of $8.17.
The above graph shows how analysts’ recommendations for Emerge Energy Services changed in the last 12 months. Notably, its mean target price fell from ~$22 in March to ~$11.3 currently.
In comparison, nearly 91% of the surveyed analysts rated Hi-Crush Partners (HCLP) as a “buy” and 9% rated it as a “hold.” Nearly 89% of the analysts rated U.S. Silica Holdings (SLCA) as a “buy,” while 59% rated Fairmount Santrol Holdings (FMSA) as a “buy.”
Emerge Energy Services rose 14% on November 1—the day its earnings were announced. However, it has fallen 35% YTD (year-to-date). In comparison, Hi-Crush Partners has fallen 50%, U.S. Silica Holdings has fallen 47%, and Fairmount Santrol has fallen 63% YTD. During the same period, the S&P 500 Index (SPX-INDEX) rose 14%.
The demand for frac-sand depends on the level of drilling activity. The flat to marginally negative movement in the crude oil rig count in the last two months might impact frac-sand producers. Frac-sand companies saw increased demand in the past few quarters driven by rising rig counts since mid-2016.
“As we look out to the rest of 2017 and into 2018, we believe that the business will continue to post strong results based on sustained high demand for frac sand and continued execution of our strategic initiatives,” said Ted W. Beneski, chairman of Emerge Energy’s general partner.
Read HCLP, EMES: Are Frac Sand MLPs Currently Attractive? to learn more about the factors that are impacting frac-sand producers.
In 3Q17, Tesla (TSLA) reported GAAP (generally accepted accounting principles) revenues of $3.0 billion, which reflected an increase of 30% YoY (year-over-year) from $2.3 billion in revenues in the corresponding quarter of 2016.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.