Equities Analysts Issue Forecasts for Select Water Solutions, Inc.’s Q1 2024 Earnings (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) – Analysts at Northland Capmk issued their Q1 2024 earnings per share (EPS) estimates for shares of Select Water Solutions in a research report issued on Monday, April 22nd. Northland Capmk analyst B. Brooks forecasts that the company will earn $0.08 per share for the quarter. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.73 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 assumed coverage on Select Water Solutions in a research note on Monday. They set a “market perform” rating and a $11.50 price target on the stock.

Select Water Solutions Stock Down 0.4 %

Shares of Select Water Solutions stock opened at $9.36 on Wednesday. Select Water Solutions has a fifty-two week low of $6.78 and a fifty-two week high of $9.74. The firm has a market cap of $1.11 billion, a PE ratio of 12.82 and a beta of 1.66. The business’s fifty day moving average is $8.87 and its two-hundred day moving average is $7.94.

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

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Tuesday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is currently 32.88%.

Insider Buying and Selling

In related news, CAO Brian Szymanski sold 8,080 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total value of $67,306.40. Following the transaction, the chief accounting officer now directly owns 84,304 shares of the company’s stock, valued at approximately $702,252.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Select Water Solutions news, CAO Brian Szymanski sold 8,080 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total value of $67,306.40. Following the transaction, the chief accounting officer now directly owns 84,304 shares of the company’s stock, valued at $702,252.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nick L. Swyka sold 9,009 shares of the firm’s stock in a transaction dated 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 directly owns 272,140 shares in the company, valued at $2,326,797. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,511 shares of company stock valued at $398,053. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Oak Thistle LLC acquired a new stake in shares of Select Water Solutions during the third quarter valued at about $187,000. Mackenzie Financial Corp acquired a new stake in shares of Select Water Solutions during the third quarter valued at about $100,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Select Water Solutions during the third quarter valued at about $28,000. Principal Financial Group Inc. acquired a new stake in shares of Select Water Solutions during the third quarter valued at about $95,000. Finally, Assenagon Asset Management S.A. grew its stake 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. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Company Profile

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.