Select Water Solutions (NYSE:WTTR) Announces Earnings Results, Misses Estimates By $0.02 EPS

Select Water Solutions (NYSE:WTTR) released its earnings results on Monday. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02), FiscalAI reports. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%. The business had revenue of $412.19 million during the quarter, compared to analysts’ expectations of $397.96 million.

Select Water Solutions Trading Down 0.0%

Shares of WTTR stock opened at $16.17 on Monday. The business’s 50 day moving average is $19.40 and its two-hundred day moving average is $17.46. Select Water Solutions has a twelve month low of $9.28 and a twelve month high of $22.55. The company has a market capitalization of $2.24 billion, a P/E ratio of 57.76 and a beta of 0.98. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 13th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 13th. Select Water Solutions’s dividend payout ratio (DPR) is presently 100.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Select Water Solutions from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. TD Cowen cut Select Water Solutions to a “neutral” rating in a research note on Friday, August 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, October 2nd. Raymond James Financial lowered shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. assumed coverage on Select Water Solutions in a research report on Friday, August 21st. They set an “overweight” rating and a $24.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.57.

About Select Water Solutions

Select Water Solutions, Inc provides water-management and chemical services to oil and natural gas exploration and production companies. Its services support drilling, completions and ongoing production, with a focus on managing water used in and generated by energy operations.

The company’s offerings include water sourcing, transfer, treatment, recycling and disposal, as well as water infrastructure such as pipelines and related facilities. It also supplies specialty chemicals and technical services designed for oilfield operations.

Formerly known as Select Energy Services, the company serves customers in major U.S.