Wall Street analysts expect Select Energy Services Inc (NYSE:WTTR) to announce $406.45 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Select Energy Services’ earnings, with the highest sales estimate coming in at $411.62 million and the lowest estimate coming in at $393.13 million. Select Energy Services posted sales of $134.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 202.3%. The company is scheduled to report its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Select Energy Services will report full-year sales of $1.64 billion for the current financial year, with estimates ranging from $1.56 billion to $1.67 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.89 billion per share, with estimates ranging from $1.66 billion to $2.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Select Energy Services.
Select Energy Services (NYSE:WTTR) last issued its quarterly earnings data on Thursday, May 10th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.08. The business had revenue of $376.40 million for the quarter, compared to the consensus estimate of $376.65 million. Select Energy Services had a negative net margin of 0.18% and a positive return on equity of 2.59%. The company’s quarterly revenue was up 276.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) EPS.
WTTR has been the topic of a number of research analyst reports. B. Riley set a $24.00 price objective on shares of Select Energy Services and gave the company a “buy” rating in a research report on Thursday, May 31st. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price objective on shares of Select Energy Services in a research report on Thursday, March 15th. Seaport Global Securities reissued a “buy” rating on shares of Select Energy Services in a research report on Thursday, April 19th. ValuEngine raised shares of Select Energy Services from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Finally, Zacks Investment Research downgraded shares of Select Energy Services from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Select Energy Services has a consensus rating of “Buy” and a consensus target price of $18.80.
Select Energy Services stock traded down $0.04 during mid-day trading on Friday, reaching $13.71. 12,833 shares of the company traded hands, compared to its average volume of 838,743. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.47 billion, a P/E ratio of 17.19 and a beta of 2.52. Select Energy Services has a 52-week low of $11.22 and a 52-week high of $21.96.
In other news, insider Gary Gillette sold 12,883 shares of the company’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $13.45, for a total value of $173,276.35. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.29% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. ELCO Management Co. LLC boosted its stake in Select Energy Services by 23.3% in the 1st quarter. ELCO Management Co. LLC now owns 16,821 shares of the company’s stock worth $212,000 after purchasing an additional 3,176 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Select Energy Services by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 454,319 shares of the company’s stock worth $5,734,000 after purchasing an additional 4,423 shares in the last quarter. Rhumbline Advisers boosted its stake in Select Energy Services by 24.8% in the 1st quarter. Rhumbline Advisers now owns 22,952 shares of the company’s stock worth $290,000 after purchasing an additional 4,565 shares in the last quarter. Barclays PLC boosted its stake in Select Energy Services by 57.1% in the 1st quarter. Barclays PLC now owns 14,665 shares of the company’s stock worth $185,000 after purchasing an additional 5,329 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Select Energy Services by 1.0% in the 1st quarter. Royal Bank of Canada now owns 535,399 shares of the company’s stock worth $6,757,000 after purchasing an additional 5,351 shares in the last quarter. Institutional investors own 43.26% of the company’s stock.
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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