Select Water Solutions, Inc. (NYSE:WTTR) Forecasted to Post Q1 2024 Earnings of $0.08 Per Share

Select Water Solutions, Inc. (NYSE:WTTR) – Northland Capmk issued their Q1 2024 earnings per share (EPS) estimates for shares of Select Water Solutions in a research note issued to investors on Monday, April 22nd. Northland Capmk analyst B. Brooks forecasts that the company will earn $0.08 per share for the quarter. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.73 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.04 EPS.

Separately, Northland Securities initiated coverage on Select Water Solutions in a research note on Monday. They set a “market perform” rating and a $11.50 price objective for the company.

Select Water Solutions Stock Up 1.2 %

Shares of NYSE WTTR opened at $9.39 on Wednesday. The business has a 50-day moving average price of $8.83 and a 200 day moving average price of $7.92. The stock has a market cap of $1.11 billion, a PE ratio of 12.86 and a beta of 1.66. Select Water Solutions has a 52-week low of $6.78 and a 52-week high of $9.74.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.11. The firm had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $378.12 million. Select Water Solutions had a return on equity of 8.46% and a net margin of 4.69%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.56%. The ex-dividend date was Tuesday, February 6th. Select Water Solutions’s payout ratio is currently 32.88%.

Insider Activity at Select Water Solutions

In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the sale, the senior vice president now owns 255,587 shares in the company, valued at approximately $2,205,715.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Christopher Kile George sold 23,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the sale, the senior vice president now owns 255,587 shares in the company, valued at $2,205,715.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Szymanski sold 6,422 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $8.60, for a total value of $55,229.20. Following the sale, the chief accounting officer now owns 95,936 shares in the company, valued at approximately $825,049.60. The disclosure for this sale can be found here. Insiders sold 46,511 shares of company stock valued at $398,053 in the last ninety days. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Select Water Solutions by 428.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 137,709 shares of the company’s stock valued at $1,271,000 after acquiring an additional 111,656 shares during the last quarter. Bridge City Capital LLC raised its position in Select Water Solutions by 2.9% in the first quarter. Bridge City Capital LLC now owns 273,698 shares of the company’s stock valued at $2,526,000 after purchasing an additional 7,777 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Select Water Solutions during the fourth quarter worth about $156,000. Wellington Management Group LLP increased its position in shares of Select Water Solutions by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 4,699,066 shares of the company’s stock worth $35,666,000 after acquiring an additional 145,714 shares during the last quarter. Finally, Palogic Value Management L.P. increased its position in shares of Select Water Solutions by 28.2% during the fourth quarter. Palogic Value Management L.P. now owns 341,300 shares of the company’s stock worth $2,590,000 after acquiring an additional 75,000 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.