Wunderlich Reiterates Buy on Nuverra Environmental Solutions (NES)

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Go back to Wunderlich Reiterates Buy on Nuverra Environmental Solutions (NES)

Nuverra Environmental (NES) Target Raised to $23 at Needham & Company

March 11, 2014 7:34 AM EDT

Needham & Company analyst Sean Hannan reiterated a Buy rating on Nuverra Environmental Solutions (NYSE: NES) and raised his price target to $23 following Q4 results.
Hannan said, "Despite weather-related impacts many had feared, 4Q results (inc. TFI business to be divested) were essentially... More

Nuverra Environmental Solution (NES) Reports Q4 Loss of 42c, Offers Outlook

March 10, 2014 4:15 PM EDT

Nuverra Environmental Solution (NYSE: NES) reported Q4 EPS of ($0.42), may not compare to the analyst estimate of ($0.47). Revenue for the quarter came in at $128.4 million versus the consensus estimate of $152.06 million.

Business Outlook

Mr. Johnsrud provided commentary on the Companys business outlook for 2014. "We are seeing an increase in E&P capital spending, growth in... More

Nuverra Environmental Solutions (NES) Agrees to Sell Thermo Fluids for $175 Million

March 10, 2014 4:09 PM EDT

Nuverra Environmental Solutions (NYSE: NES) (Nuverra or the Company) today announced that it has entered into a definitive agreement to divest the Companys Industrial Solutions segment, Thermo Fluids Inc. (TFI), to VeroLube, Inc. (VeroLube). VeroLube is developing two re-refineries with a patented technology, and focusing on a consolidation of the used oil industry.

Under the terms of the agreement, Nuverra will receive $165 million in cash and $10 million in VeroLube shares. The cash portion of the transaction is subject to adjustment based on the actual working capital conveyed at closing. The sale is expected to close... More