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TheStreet Open House

Why C&J Energy Services (CJES) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of C&J Energy Services Inc. (CJES) are up 2.41% to $30.59 on Monday following a ratings upgrade to "buy" from "neutral" at Global Hunter Securities.

The firm changed its rating on the company, which provides hydraulic fracturing, coiled tubing, wireline and other services focusing on complex well completions, based on spot market upside and greater market visibility.

Global Hunter raised it price target on C&J Energy to $35 from $22.

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TheStreet Ratings team rates C&J ENERGY SERVICES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate C&J ENERGY SERVICES INC (CJES) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • CJES's revenue growth has slightly outpaced the industry average of 9.8%. Since the same quarter one year prior, revenues rose by 14.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • CJES's debt-to-equity ratio is very low at 0.29 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.19, which illustrates the ability to avoid short-term cash problems.
  • Compared to its closing price of one year ago, CJES's share price has jumped by 53.55%, exceeding the performance of the broader market during that same time frame. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • C&J ENERGY SERVICES INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, C&J ENERGY SERVICES INC reported lower earnings of $1.21 versus $3.38 in the prior year. For the next year, the market is expecting a contraction of 4.1% in earnings ($1.16 versus $1.21).
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Energy Equipment & Services industry. The net income has significantly decreased by 53.9% when compared to the same quarter one year ago, falling from $25.14 million to $11.59 million.
  • You can view the full analysis from the report here: CJES Ratings Report
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