In a remarkable display of market confidence, Ranger Energy Services Inc. (NYSE: ) shares jumped to an all-time high, hitting the $17.23 price level. With a market cap of $382 million and an “EXCELLENT” financial health rating according to InvestingProthe company demonstrates a strong fundamental positioning. This highlight comes as confirmation of the company’s strong performance and investor optimism. Over the past year, Ranger Energy Services has witnessed an impressive one-year turnaround, with its stock value up 76%. InvestingPro analysis shows that the stock is currently fairly valued, and management is actively buying back shares. The company’s rise to this record price reflects a significant turnaround and strong growth, attracting the attention of investors and industry analysts. As Ranger Energy Services continues to capitalize on favorable market conditions, stakeholders are watching closely to see if the stock can maintain its upward trajectory in line with evolving industry dynamics. InvestingPro subscribers have access to 12 additional key insights on RNGR’s performance and outlook.
In other recent news, Ranger Energy Services posted impressive third quarter results amid a challenging market environment. The company reported an 11% quarter-on-quarter increase in revenue to $153 million, despite a 7% year-over-year decline. Adjusted EBITDA was also up, up 20% from the prior quarter to $25.1 million. The High-Spec Equipment segment posted record revenue of $86.7 million, and the Ancillary Services segment saw a significant increase, largely due to a 33% increase in coiled tubing revenue.
Ranger Energy also showcased its robust balance sheet, with no net debt and $86.1 million in liquidity, and demonstrated its commitment to shareholder return with a $15.5 million share buyback. Looking ahead, the company expressed optimism about growth in 2025, especially in the high-spec equipment and ancillary services sectors, and foresees stabilization in wireless network services. Despite year-over-year revenue declines, these recent developments underscore Ranger Energy’s resilience and strategic focus on high-margin service lines.
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