Flotek Industries Inc. (NYSE:FTK) is set to announce its earnings results after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. Flotek Industries had a negative return on equity of 2.24% and a negative net margin of 10.29%. The company earned $72.32 million during the quarter, compared to the consensus estimate of $65 million. During the same period last year, the company earned $0.02 EPS. Flotek Industries’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, analysts expect Flotek Industries to post $-0.15 EPS for the current fiscal year and $0.41 EPS for the next fiscal year.

Earnings History for Flotek Industries (NYSE:FTK)

Shares of Flotek Industries Inc. (NYSE:FTK) opened at 13.84 on Tuesday. The company’s market capitalization is $746.10 million. The company has a 50-day moving average price of $14.65 and a 200 day moving average price of $12.68. Flotek Industries Inc. has a 12-month low of $4.89 and a 12-month high of $19.90.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Flotek Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd. Stephens reiterated a “top pick” rating on shares of Flotek Industries in a report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $10.81.

In related news, Director L Melvin Cooper sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the sale, the director now directly owns 92,475 shares in the company, valued at approximately $1,480,524.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.64% of the company’s stock.

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Flotek Industries by 7.3% in the second quarter. Vanguard Group Inc. now owns 4,251,910 shares of the company’s stock worth $56,126,000 after buying an additional 290,001 shares during the period. BlackRock Advisors LLC boosted its stake in shares of Flotek Industries by 2.9% in the second quarter. BlackRock Advisors LLC now owns 25,242 shares of the company’s stock worth $333,000 after buying an additional 706 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Flotek Industries by 3.4% in the second quarter. BlackRock Fund Advisors now owns 3,583,533 shares of the company’s stock worth $47,303,000 after buying an additional 117,797 shares during the period. BlackRock Group LTD boosted its stake in shares of Flotek Industries by 12.5% in the second quarter. BlackRock Group LTD now owns 60,470 shares of the company’s stock worth $799,000 after buying an additional 6,728 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Flotek Industries by 6.1% in the second quarter. Alliancebernstein L.P. now owns 74,800 shares of the company’s stock worth $987,000 after buying an additional 4,300 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.

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