NCS Multistage Holdings: Rises as international revenue drives Q4 beat

NCS Multistage Holdings

03/03/2020 16:45

** Shares in oilfield services firm  NCSM.O  up 27.2% at
$1.31
    ** Excluding items, co reports smaller-than-expected loss of
4 cents/shr vs. estimate of a loss of 5 cents/shr - IBES
Refinitiv
    ** Posts total revenue of $52.1 mln, up 4% year-over-year
and beating estimates
    ** NCSM says Canadian and international revenue increased by
24% and 58%, respectively, on a year-over-year basis, while U.S.
revenue fell by 18%, reflecting a reduction in industry activity
    ** Expects capital spending in 2020 to be at or below 2019
level  urn:newsml:reuters.com:*:nGNX34vhM7
    ** Says activity level in 2020 will depend in part on
ultimate impact of the coronavirus outbreak on the Chinese and
global economy and resulting impact on oil demand
    ** Tudor, Pickering, Holt & Co says NCSM continues to
navigate murky market admirably
    ** Avg. rating on stock is "hold"; median PT is $2.90
    ** Stock has fallen 37.6% so far this year

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))