Select Water Solutions, Inc. (NYSE:WTTR) Expected to Earn Q1 2024 Earnings of $0.08 Per Share

Select Water Solutions, Inc. (NYSE:WTTR) – Northland Capmk issued their Q1 2024 earnings estimates for Select Water Solutions in a research report issued to clients and investors on Monday, April 22nd. Northland Capmk analyst B. Brooks expects that the company will earn $0.08 per share for the quarter. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.70 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.04 EPS.

Separately, Northland Securities started coverage on shares of Select Water Solutions in a report on Monday. They issued a “market perform” rating and a $11.50 price objective for the company.

Select Water Solutions Trading Up 0.6 %

Shares of NYSE:WTTR opened at $9.42 on Wednesday. The firm’s 50 day moving average is $8.91 and its two-hundred day moving average is $7.95. The firm has a market capitalization of $1.11 billion, a P/E ratio of 12.73 and a beta of 1.66. Select Water Solutions has a 52 week low of $6.78 and a 52 week high of $9.74.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.16 by $0.11. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The company had revenue of $374.90 million for the quarter, compared to analyst estimates of $378.12 million. During the same quarter last year, the business earned $0.07 earnings per share. Select Water Solutions’s revenue was down 1.8% compared to the same quarter last year.

Institutional Investors Weigh In On Select Water Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Select Water Solutions during the 3rd quarter valued at $28,000. New York State Teachers Retirement System acquired a new position in Select Water Solutions in the 4th quarter valued at $54,000. Principal Financial Group Inc. acquired a new position in Select Water Solutions in the 3rd quarter valued at $95,000. Mackenzie Financial Corp acquired a new position in Select Water Solutions in the 3rd quarter valued at $100,000. Finally, Clough Capital Partners L P acquired a new position in Select Water Solutions in the 3rd quarter valued at $112,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher Kile George sold 23,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total value of $198,490.00. Following the completion of the transaction, the senior vice president now owns 255,587 shares of the company’s stock, valued at approximately $2,205,715.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Nick L. Swyka sold 9,009 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $8.55, for a total value of $77,026.95. Following the completion of the transaction, the chief financial officer now owns 272,140 shares of the company’s stock, valued at approximately $2,326,797. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher Kile George sold 23,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the transaction, the senior vice president now directly owns 255,587 shares of the company’s stock, valued at approximately $2,205,715.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,511 shares of company stock worth $398,053. Corporate insiders own 8.10% of the company’s stock.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Thursday, May 2nd. Select Water Solutions’s payout ratio is 32.88%.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.