Seaport Res Ptn Has Negative Outlook of WTTR FY2024 Earnings

Select Water Solutions, Inc. (NYSE:WTTR - Free Report) - Analysts at Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for Select Water Solutions in a research note issued on Thursday, November 7th. Seaport Res Ptn analyst T. Curran now forecasts that the company will earn $0.41 per share for the year, down from their previous forecast of $0.48. The consensus estimate for Select Water Solutions' current full-year earnings is $0.40 per share. Seaport Res Ptn also issued estimates for Select Water Solutions' Q4 2024 earnings at $0.10 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.28 EPS and FY2025 earnings at $0.94 EPS.

WTTR has been the topic of several other research reports. Northland Capmk raised shares of Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 22nd. Northland Securities upgraded Select Water Solutions from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $11.50 to $14.50 in a research report on Thursday, August 22nd.

Select Water Solutions Stock Performance

Shares of NYSE WTTR traded down $0.31 during trading on Monday, reaching $13.64. 1,577,095 shares of the stock traded hands, compared to its average volume of 1,039,772. The company has a 50-day moving average of $11.23 and a 200-day moving average of $10.81. Select Water Solutions has a 52-week low of $6.99 and a 52-week high of $14.48. The stock has a market capitalization of $1.62 billion, a P/E ratio of 23.12 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.63.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The business had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was down 4.6% on a year-over-year basis.

Select Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.07 dividend. The ex-dividend date is Tuesday, November 5th. This is a boost from Select Water Solutions's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.05%. Select Water Solutions's dividend payout ratio is currently 47.46%.

Hedge Funds Weigh In On Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Select Water Solutions by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company's stock worth $32,000 after buying an additional 1,096 shares during the last quarter. Innealta Capital LLC purchased a new position in Select Water Solutions in the 2nd quarter worth $34,000. CWM LLC lifted its stake in Select Water Solutions by 55.2% in the second quarter. CWM LLC now owns 4,204 shares of the company's stock worth $45,000 after purchasing an additional 1,496 shares during the last quarter. New York State Teachers Retirement System boosted its position in Select Water Solutions by 13.8% during the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company's stock valued at $93,000 after buying an additional 1,010 shares during the period. Finally, Creative Planning purchased a new position in shares of Select Water Solutions in the third quarter worth about $112,000. 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.