What is Roth Capital's Forecast for FTK FY2024 Earnings?

Flotek Industries, Inc. (NYSE:FTK - Free Report) - Investment analysts at Roth Capital raised their FY2024 earnings estimates for Flotek Industries in a research note issued to investors on Thursday, November 7th. Roth Capital analyst G. Sweeney now expects that the oil and gas company will post earnings per share of $0.29 for the year, up from their prior estimate of $0.27. Roth Capital has a "Strong-Buy" rating on the stock. The consensus estimate for Flotek Industries' current full-year earnings is $0.27 per share. Roth Capital also issued estimates for Flotek Industries' Q4 2024 earnings at $0.10 EPS.

Separately, Roth Mkm boosted their target price on shares of Flotek Industries from $6.50 to $8.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $7.50.

Flotek Industries Stock Performance

Shares of NYSE:FTK traded up $0.41 during mid-day trading on Friday, hitting $6.97. The stock had a trading volume of 317,028 shares, compared to its average volume of 80,295. The company's 50 day moving average is $4.89 and its 200-day moving average is $4.46. Flotek Industries has a 12-month low of $2.64 and a 12-month high of $7.24. The company has a market cap of $207.78 million, a PE ratio of 26.69 and a beta of 1.04.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Flotek Industries had a return on equity of 7.86% and a net margin of 4.58%. The business had revenue of $49.74 million for the quarter, compared to analysts' expectations of $50.40 million. During the same period in the previous year, the firm posted $0.04 EPS.

Institutional Investors Weigh In On Flotek Industries

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Flotek Industries by 7.9% during the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company's stock worth $2,039,000 after acquiring an additional 39,695 shares in the last quarter. Masters Capital Management LLC lifted its holdings in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company's stock valued at $1,870,000 after buying an additional 18,524 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries during the 3rd quarter valued at about $137,000. Institutional investors and hedge funds own 10.90% of the company's stock.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).