Select Energy Services Inc (WTTR) Expected to Announce Earnings of $0.28 Per Share

Brokerages forecast that Select Energy Services Inc (NYSE:WTTR) will report $0.28 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Select Energy Services’ earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.17. Select Energy Services reported earnings per share of $0.04 during the same quarter last year, which would indicate a positive year-over-year growth rate of 600%. The company is expected to issue its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Select Energy Services will report full-year earnings of $0.91 per share for the current year, with EPS estimates ranging from $0.74 to $1.04. For the next year, analysts anticipate that the business will report earnings of $1.23 per share, with EPS estimates ranging from $0.90 to $1.85. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Select Energy Services.

Select Energy Services (NYSE:WTTR) last issued its earnings results on Thursday, August 9th. The company reported $0.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.24. The business had revenue of $393.20 million during the quarter, compared to the consensus estimate of $403.45 million. Select Energy Services had a return on equity of 3.53% and a net margin of 1.58%. The firm’s revenue for the quarter was up 192.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) earnings per share.

A number of equities research analysts have weighed in on the company. Citigroup lifted their target price on Select Energy Services from $14.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 11th. Zacks Investment Research upgraded Select Energy Services from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a report on Wednesday, August 1st. Seaport Global Securities restated a “buy” rating and set a $27.00 price objective on shares of Select Energy Services in a report on Monday, August 13th. Credit Suisse Group decreased their price objective on Select Energy Services from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, August 13th. Finally, B. Riley set a $22.00 price objective on Select Energy Services and gave the company a “buy” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.08.

WTTR stock traded down $0.25 during mid-day trading on Friday, reaching $11.69. The company’s stock had a trading volume of 8,392 shares, compared to its average volume of 627,570. The company has a market cap of $1.26 billion, a P/E ratio of 14.52 and a beta of 2.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.16 and a current ratio of 2.40. Select Energy Services has a 12 month low of $11.40 and a 12 month high of $21.96.

In other news, CFO Nick L. Swyka acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average price of $13.64 per share, for a total transaction of $34,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.29% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Koch Industries Inc. purchased a new position in shares of Select Energy Services during the first quarter valued at approximately $127,000. Parkwood LLC purchased a new position in shares of Select Energy Services during the second quarter valued at approximately $149,000. Barclays PLC boosted its position in shares of Select Energy Services by 57.1% during the first quarter. Barclays PLC now owns 14,665 shares of the company’s stock valued at $185,000 after buying an additional 5,329 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Select Energy Services by 61.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 15,515 shares of the company’s stock valued at $225,000 after buying an additional 5,890 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Select Energy Services by 49.5% during the second quarter. Voya Investment Management LLC now owns 17,137 shares of the company’s stock valued at $249,000 after buying an additional 5,673 shares during the last quarter. 52.36% of the stock is currently owned by institutional investors.

Select Energy Services Company Profile

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary hose; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.

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