C&J Energy Services Announces First Quarter 2016 Results
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KLR Group Cuts Price Target on C&J Energy Services (CJES) as Restructuring Appears Imminent
May 12, 2016 6:52 AM EDTKLR Group maintained a Hold rating on C&J Energy Services (NYSE: CJES), and cut the price target to $0.50 (from $1.50), following the company's 1Q. CJES reported EPS of ($0.61) versus the consensus estimate of ($0.68). Management announced that is has breached its EBITDA covenants, but... More
C&J Energy Services (CJES) Tops Q1 EPS by 8c
May 10, 2016 5:02 PM EDTC&J Energy Services (NYSE: CJES) reported Q1 EPS of ($0.61), $0.08 better than the analyst estimate of ($0.69). Revenue for the quarter came in at $269.62 million versus the consensus estimate of $312.61 million.
"During the first quarter, as oil prices declined and the rig count continued to fall, our customers responded by delaying or cancelling previously scheduled work, resulting in decreased utilization levels across our operations. In our Completion Services segment, we experienced declining utilization levels and more intense pricing pressure as certain competitors took advantage of the downturn to try to grow market share by... More
