Brokerages expect Select Energy Services Inc (NYSE:WTTR) to announce sales of $315.74 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Select Energy Services’ earnings, with the lowest sales estimate coming in at $308.92 million and the highest estimate coming in at $319.30 million. Select Energy Services posted sales of $396.97 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 20.5%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, November 6th.
According to Zacks, analysts expect that Select Energy Services will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.29 billion to $1.33 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.36 billion, with estimates ranging from $1.24 billion to $1.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Select Energy Services.
Select Energy Services (NYSE:WTTR) last posted its earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). Select Energy Services had a net margin of 1.16% and a return on equity of 5.12%. The company had revenue of $323.90 million during the quarter, compared to analysts’ expectations of $357.28 million. During the same period last year, the business earned $0.24 earnings per share. The company’s quarterly revenue was down 17.6% on a year-over-year basis.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Select Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet lowered shares of Select Energy Services from a “c-” rating to a “d+” rating in a research report on Tuesday, September 3rd. Wells Fargo & Co decreased their target price on shares of Select Energy Services from $10.50 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, September 12th. Finally, Royal Bank of Canada restated a “buy” rating and set a $10.00 price objective on shares of Select Energy Services in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.50.
Shares of NYSE:WTTR opened at $7.27 on Friday. The company has a market cap of $809.27 million, a price-to-earnings ratio of 8.45 and a beta of 2.73. The firm’s 50-day simple moving average is $8.36 and its 200-day simple moving average is $10.18. The company has a quick ratio of 2.32, a current ratio of 2.56 and a debt-to-equity ratio of 0.07. Select Energy Services has a fifty-two week low of $6.05 and a fifty-two week high of $12.75.
Several institutional investors have recently added to or reduced their stakes in WTTR. Parallel Advisors LLC acquired a new stake in Select Energy Services in the second quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Select Energy Services by 79.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,845 shares of the company’s stock worth $33,000 after buying an additional 1,697 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Select Energy Services during the 2nd quarter worth about $55,000. State Board of Administration of Florida Retirement System bought a new position in shares of Select Energy Services during the 2nd quarter valued at about $139,000. Finally, Alberta Investment Management Corp bought a new position in shares of Select Energy Services during the 2nd quarter valued at about $176,000. 59.44% of the stock is owned by institutional investors and hedge funds.
About Select Energy Services
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural 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 pipe; 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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