Why Is Basic Energy Services, Inc. (BAS) Moving So Hard, So Fast?

Basic Energy Services, Inc. (NYSE:BAS) shares saw a recent bid of $16.71 and 662.27TH shares have exchanged hands in the recent trading session, yielding a -24.11% decline over the past week.BAS price increased 1.15% or $-0.19 versus $16.52 at the end of the prior session. This change led market cap to move at $463.03M, putting the price -62.71% below the 52-week high and 2.33% above the 52-week low. The company’s stock has a normal trading capacity of 543.98K shares while the relative volume is 1.22.

Is Basic Energy Services, Inc. (NYSE:BAS) Worth Buying?

By historical standards, Basic Energy Services, Inc. (NYSE:BAS) remains a cheap stock. BAS’s current price-earnings ratio amounts above the average P/E ratio of 147.27 times earnings. For now, BAS is the toast of Wall Street as its ABR stands at 2.50 with 0 out of 6 analysts rating the stock a buy. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Company has far performed well this year, with the share price down -52.73% since January. Over the past 2 quarters, Basic Energy Services, Inc. (NYSE:BAS) is down -60.21%, compared with a fall of nearly -41.53% for 3 months and about -37.83% for the past 30 days.

Basic Energy Services, Inc. (BAS) Has Mean Target Price of $28.25

To stay one step ahead we extended our research by comparing different price targets. Basic Energy Services, Inc. (NYSE:BAS) notched a 12-month high of $31.92 while $48.00 target is by far the most aggressive out of analysts who are currently evaluating BAS, $16.08 higher than the next highest 52-week price estimate. The lowest 12-month price target for the shares is $21.00, which would be an increase of about 26% of its current value. The mean target of $28.25 should be compared with the price when the stock was languishing around $16.33 a share.

Basic Energy Services, Inc. Revenue Estimate is $866.15 Million

Last time, the company failed Wall Street by reporting EPS of $-0.57, smashing the consensus of $-0.56 per share. Revenue for the quarter also did not kill consensus, coming in at $213.3 Million, compared to the consensus of 219.73 Million. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $-0.40. The company is expected to report EPS as high as $-0.34 and as low as $-0.48 per share. Similarly, full-year EPS forecasts have ranged between $-3.71 and $-1.99. The mean EPS estimate is $-2.34. On the other side, sales forecasts for the current quarter are $230.33 Million. The stock is expected to report revenue as high as $236.7 Million and as low as $217 Million per share. Similarly, full-year sales forecasts have ranged between $849 Million and $880.9 Million. The mean revenue estimate is $866.15 Million.

Over the last 5 years, Basic Energy Services, Inc. has averaged a -14.90% YoY EPS growth rate and a -15.10% revenue growth rate. Analysts are expecting EPS growth rates to be at 50.80% this quarter and EPS estimate for next year reflect 112.20% growth rate.

What Guru’s think About Is Basic Energy Services, Inc. (NYSE:BAS)

Sell-side analysts also have something to say about this BAS. Credit Suisse analysts stated on 21/07/2017 that they launched coverage on this stock with Neutral rating. Seaport Global Securities had a markedly different take on 21/06/2017, proposing that BAS is now considered Neutral versus prior Buy rating. Seaport Global Securities raised its rating on Basic Energy Services, Inc. to Buy on 30/03/2017 in a reversal from its prior Neutral rating. Deutsche Bank raised its rating on Basic Energy Services, Inc. to Buy on 19/01/2017 in a reversal from its prior Hold rating.

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