Seaport Res Ptn Has Pessimistic View of WTTR FY2024 Earnings

Select Water Solutions, Inc. (NYSE:WTTR) – Analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for Select Water Solutions in a research note issued to investors on Thursday, November 7th. Seaport Res Ptn analyst T. Curran now expects that the company will earn $0.41 per share for the year, down from their prior estimate 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.

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

Several other analysts also recently weighed in on WTTR. Northland Capmk raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.50 to $14.50 in a report on Thursday, August 22nd.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $13.95 on Monday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 23.64 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 has a 1-year low of $6.99 and a 1-year high of $14.48. The firm’s fifty day moving average price is $11.19 and its 200 day moving average price is $10.78.

Select Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.01%. Select Water Solutions’s dividend payout ratio is 47.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 1,096 shares during the period. Innealta Capital LLC purchased a new stake in Select Water Solutions during the second quarter worth $34,000. CWM LLC grew its holdings in Select Water Solutions by 55.2% in the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after purchasing an additional 1,496 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Select Water Solutions by 13.8% in the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock valued at $93,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Select Water Solutions in the third quarter valued at $112,000. 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.