Wall Street analysts expect Select Energy Services Inc (NYSE:WTTR) to announce $364.34 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 $371.40 million and the lowest estimate coming in at $351.20 million. Select Energy Services posted sales of $304.24 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.8%. The company is scheduled to report its next earnings results on Wednesday, March 6th.
According to Zacks, analysts expect that Select Energy Services will report full-year sales of $1.53 billion for the current financial year, with estimates ranging from $1.52 billion to $1.54 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.66 billion, with estimates ranging from $1.59 billion to $1.70 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 posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Select Energy Services had a net margin of 2.80% and a return on equity of 4.95%. The business had revenue of $396.97 million during the quarter, compared to the consensus estimate of $406.52 million. During the same quarter last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 158.0% compared to the same quarter last year.
WTTR has been the subject of a number of analyst reports. Citigroup upgraded shares of Select Energy Services from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.00 in a research report on Monday, November 19th. Zacks Investment Research upgraded shares of Select Energy Services from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. ValuEngine lowered shares of Select Energy Services from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Credit Suisse Group set a $17.00 target price on shares of Select Energy Services and gave the company a “buy” rating in a research report on Friday, November 9th. Finally, Wells Fargo & Co lifted their target price on shares of Select Energy Services from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.08.
NYSE WTTR traded up $0.18 during trading hours on Friday, reaching $9.16. 632,243 shares of the company were exchanged, compared to its average volume of 623,093. Select Energy Services has a 1 year low of $8.95 and a 1 year high of $21.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.27 and a current ratio of 2.51. The company has a market capitalization of $1.02 billion, a PE ratio of 11.45 and a beta of 2.22.
In related news, CAO Gary Gillette sold 20,000 shares of Select Energy Services stock in a transaction on Monday, November 19th. The shares were sold at an average price of $10.62, for a total value of $212,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.29% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Select Energy Services during the 3rd quarter valued at $100,000. Parkwood LLC bought a new position in Select Energy Services in the 2nd quarter worth about $149,000. Dynamic Technology Lab Private Ltd bought a new position in Select Energy Services in the 3rd quarter worth about $208,000. Metropolitan Life Insurance Co. NY boosted its stake in Select Energy Services by 61.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,515 shares of the company’s stock worth $225,000 after purchasing an additional 5,890 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Select Energy Services by 49.5% in the 2nd quarter. Voya Investment Management LLC now owns 17,137 shares of the company’s stock worth $249,000 after purchasing an additional 5,673 shares in the last quarter. Hedge funds and other institutional investors own 56.48% of the company’s stock.
About Select Energy Services
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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