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News Breaks
August 1, 2014
09:06 EDTCRRCARBO Ceramics weakness creates buying opportunity, says Sterne Agee
Sterne Agee believes that CARBO reported solid Q2 results, and the firm thinks the company should benefit from its rising volumes and improving margins. It reiterates a Buy rating.
News For CRR From The Last 14 Days
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September 25, 2015
13:52 EDTCRRSand proppant producers plunge after Emerge Energy withdraws guidance
Shares of sand proppant producers U.S. Silica (SLCA), Hi-Crush Partners (HCLP), CARBO Ceramics (CRR), and Fairmount Santrol Holdings (FMSA) are declining after peer Emerge Energy Services (EMES) withdrew its distribution guidance, causing Baird and Stifel to issues downgrades on the company. WHAT'S NEW: Emerge Energy said in a statement Thursday night that it is withdrawing its previously announced distribution guidance for 2015 due to difficult market conditions in its Sand and Fuel segments caused by prolonged downward pressure on oil and natural gas prices. Emerge Energy also noted that it does not currently anticipate announcing any further distribution guidance for 2015. WHAT'S NOTABLE: In a note to investors, Baird analyst Ethan Bellamy downgraded Emerge Energy Services to Underperform from Neutral as he warned that distribution cuts are likely ahead. Bellamy noted that Emerge Energy announced preliminary 2015 DPU guidance of $8.00/unit, but lowered it to $3.00 in April, and again lowered it in August to $2.50-$3.00 before cutting guidance completely Thursday. Baird is now modeling DPU of $2.35/unit in 2015 versus current consensus of $2.55/unit. Fracking sand prices continue to be under pressure due to renegotiated contracts and reduced spending by exploration and production companies, the analyst added. Additionally, Baird warned of a possible covenant breach in the future. The firm noted that Emerge Energy is in ongoing discussions with its lenders to seek a prospective waiver on its covenants. Another research firm, Stifel, downgraded shares of Emerge Energy to Sell from Hold. The firm significantly reduced its estimates and thinks the stock has several negative catalysts. It predicted there will be additional downward pressure on the shares. PRICE ACTION: In afternoon trading, shares of Emerge Energy are down 29.75% to $8.24. OTHERS TO WATCH: Other sand proppant producers are trading lower in afternoon trading, with U.S. Silica down almost 10%, Hi-Crush Partners falling 12.7%, CARBO Ceramics dropping 5.4%, and Fairmount Santrol Holdings declining over 8%.

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