Oil States International Analysts Increase Their Forecasts After Better-Than-Expected Q4 Earnings

Benzinga02:30

Oil States International, Inc. (NYSE:OIS) reported better-than-expected fourth-quarter earnings on Friday.

Oil States International reported quarterly earnings of 13 cents per share which beat the analyst consensus estimate of 10 cents per share. The company reported quarterly sales of $178.464 million which missed the analyst consensus estimate of $180.158 million.

“Our team achieved another strong quarter, reporting Adjusted EBITDA that exceeded our guidance and quarterly cash flows from operations at historically high levels. During the quarter, we used our strong cash position to retire $50 million of our convertible notes outstanding. We also secured strong bookings in the quarter driving meaningful backlog growth. We are essentially complete with our U.S. land restructuring initiatives and are poised for long-term growth, technology differentiation and meaningful stockholder returns.”

Oil States International shares gained 7.1% to trade at $13.42 on Monday.

These analysts made changes to their price targets on Oil States International following earnings announcement.

  • Susquehanna analyst Charles Minervino maintained Oil States International with a Neutral and raised the price target from $8 to $13.
  • Stifel analyst Stephen Gengaro maintained the stock with a Buy and raised the price target from $10 to $15.

Considering buying OIS stock? Here’s what analysts think:

Photo via Shutterstock

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