Seaport Global Securities Research Analysts Lift Earnings Estimates for Flotek Industries Inc (NYSE:FTK)

Flotek Industries Inc (NYSE:FTK) – Investment analysts at Seaport Global Securities lifted their FY2017 earnings per share (EPS) estimates for shares of Flotek Industries in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas company will post earnings per share of ($0.10) for the year, up from their previous estimate of ($0.12). Seaport Global Securities also issued estimates for Flotek Industries’ Q4 2017 earnings at ($0.02) EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.05 EPS, FY2018 earnings at $0.31 EPS, Q1 2019 earnings at $0.11 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.07 EPS and FY2019 earnings at $0.47 EPS.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). Flotek Industries had a negative net margin of 10.41% and a negative return on equity of 1.64%. The firm had revenue of $79.46 million during the quarter, compared to analyst estimates of $85.10 million. During the same period last year, the business earned ($0.06) EPS. The firm’s revenue was up 23.5% compared to the same quarter last year.

Separately, Zacks Investment Research raised shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 9th.

Shares of Flotek Industries (NYSE FTK) traded down $0.03 during trading hours on Friday, reaching $4.83. 1,657,564 shares of the company’s stock traded hands, compared to its average volume of 1,105,444. Flotek Industries has a one year low of $4.14 and a one year high of $14.51. The firm has a market capitalization of $274.47, a P/E ratio of -8.62 and a beta of 1.77.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Flotek Industries by 4.4% in the fourth quarter. BlackRock Inc. now owns 7,241,765 shares of the oil and gas company’s stock valued at $33,747,000 after acquiring an additional 304,752 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Flotek Industries by 2.8% during the second quarter. Vanguard Group Inc. now owns 5,020,985 shares of the oil and gas company’s stock worth $44,888,000 after buying an additional 135,026 shares in the last quarter. Bamco Inc. NY grew its position in shares of Flotek Industries by 21.3% during the second quarter. Bamco Inc. NY now owns 3,060,366 shares of the oil and gas company’s stock worth $27,360,000 after buying an additional 536,514 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flotek Industries by 21.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,358,417 shares of the oil and gas company’s stock worth $6,317,000 after buying an additional 243,001 shares in the last quarter. Finally, State Street Corp grew its position in shares of Flotek Industries by 3.5% during the second quarter. State Street Corp now owns 1,299,110 shares of the oil and gas company’s stock worth $11,615,000 after buying an additional 44,475 shares in the last quarter. 84.18% of the stock is owned by institutional investors.

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About Flotek Industries

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

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Earnings History and Estimates for Flotek Industries (NYSE:FTK)

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