Select Water Solutions, Inc. Expected to Earn Q2 2024 Earnings of $0.09 Per Share (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) – Equities research analysts at Northland Capmk dropped their Q2 2024 EPS estimates for shares of Select Water Solutions in a report issued on Friday, May 3rd. Northland Capmk analyst B. Brooks now forecasts that the company will post earnings of $0.09 per share for the quarter, down from their prior forecast of $0.12. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.64 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q3 2024 earnings at $0.19 EPS, FY2024 earnings at $0.52 EPS, Q1 2025 earnings at $0.18 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.31 EPS and Q4 2025 earnings at $0.34 EPS.

Separately, Northland Securities assumed coverage on Select Water Solutions in a research report on Monday, April 22nd. They set a “market perform” rating and a $11.50 price target on the stock.

Select Water Solutions Stock Up 0.8 %

Shares of NYSE WTTR opened at $9.22 on Monday. Select Water Solutions has a one year low of $6.78 and a one year high of $9.74. The stock has a market capitalization of $1.09 billion, a P/E ratio of 14.18 and a beta of 1.65. The firm’s 50 day simple moving average is $9.06 and its two-hundred day simple moving average is $8.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.94 and a quick ratio of 1.76.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $366.60 million for the quarter, compared to the consensus estimate of $369.29 million. Select Water Solutions had a return on equity of 7.46% and a net margin of 4.28%. The business’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 earnings per share.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 2nd. Select Water Solutions’s payout ratio is 36.92%.

Insider Activity at Select Water Solutions

In related news, CAO Brian Szymanski sold 6,422 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $8.60, for a total value of $55,229.20. Following the sale, the chief accounting officer now directly owns 95,936 shares of the company’s stock, valued at $825,049.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Brian Szymanski sold 6,422 shares of Select Water Solutions stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $8.60, for a total transaction of $55,229.20. Following the completion of the transaction, the chief accounting officer now directly owns 95,936 shares of the company’s stock, valued at approximately $825,049.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Christopher Kile George sold 23,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 255,587 shares in the company, valued at approximately $2,205,715.81. The disclosure for this sale can be found here. Insiders have sold 46,511 shares of company stock worth $398,053 over the last 90 days. 8.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently modified their holdings of WTTR. Mackenzie Financial Corp bought a new position in Select Water Solutions in the 3rd quarter worth about $100,000. Allspring Global Investments Holdings LLC bought a new position in shares of Select Water Solutions in the third quarter worth approximately $28,000. Principal Financial Group Inc. purchased a new stake in shares of Select Water Solutions during the third quarter valued at approximately $95,000. Assenagon Asset Management S.A. increased its position in shares of Select Water Solutions by 2,933.0% during the third quarter. Assenagon Asset Management S.A. now owns 310,214 shares of the company’s stock valued at $2,466,000 after acquiring an additional 299,986 shares in the last quarter. Finally, Barclays PLC raised its holdings in Select Water Solutions by 71.9% in the 3rd quarter. Barclays PLC now owns 54,902 shares of the company’s stock worth $436,000 after acquiring an additional 22,962 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

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.