$430.81 Million in Sales Expected for Select Energy Services Inc (WTTR) This Quarter

Equities research analysts predict that Select Energy Services Inc (NYSE:WTTR) will announce $430.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Select Energy Services’ earnings. The lowest sales estimate is $407.72 million and the highest is $438.40 million. Select Energy Services reported sales of $153.88 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 180%. The company is expected to announce its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Select Energy Services will report full year sales of $1.64 billion for the current financial year, with estimates ranging from $1.56 billion to $1.67 billion. For the next financial year, analysts forecast that the business will post sales of $1.87 billion per share, with estimates ranging from $1.66 billion to $2.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Select Energy Services.

Select Energy Services (NYSE:WTTR) last released its earnings results on Thursday, August 9th. The company reported $0.24 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The firm had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $403.45 million. Select Energy Services had a net margin of 1.58% and a return on equity of 3.78%. Select Energy Services’s quarterly revenue was up 192.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS.

Several analysts recently commented on WTTR shares. Zacks Investment Research upgraded shares of Select Energy Services from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Wednesday, August 1st. Royal Bank of Canada began coverage on shares of Select Energy Services in a research report on Monday, June 4th. They set an “outperform” rating and a $20.00 price objective on the stock. ValuEngine lowered shares of Select Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. B. Riley set a $24.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a research report on Thursday, May 31st. Finally, Citigroup lifted their price target on shares of Select Energy Services from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, July 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $18.28.

In other news, insider Gary Gillette sold 12,883 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $13.45, for a total value of $173,276.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.29% of the company’s stock.

Several institutional investors have recently made changes to their positions in WTTR. Salzhauer Michael acquired a new stake in shares of Select Energy Services in the first quarter worth $126,000. Koch Industries Inc. acquired a new stake in Select Energy Services during the first quarter worth $127,000. Parkwood LLC acquired a new stake in Select Energy Services during the second quarter worth $149,000. Metropolitan Life Insurance Co. NY acquired a new stake in Select Energy Services during the fourth quarter worth $176,000. Finally, Barclays PLC boosted its stake in Select Energy Services by 57.1% during the first quarter. Barclays PLC now owns 14,665 shares of the company’s stock worth $185,000 after buying an additional 5,329 shares in the last quarter. Institutional investors and hedge funds own 43.99% of the company’s stock.

Shares of WTTR stock traded down $0.90 during trading on Thursday, hitting $14.70. 2,660,365 shares of the company were exchanged, compared to its average volume of 586,546. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.17 and a current ratio of 2.39. The stock has a market cap of $1.66 billion, a P/E ratio of 18.38 and a beta of 2.44. Select Energy Services has a twelve month low of $11.50 and a twelve month high of $21.96.

About Select Energy Services

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary hose; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.

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