Select Water Solutions (NYSE:WTTR) Posts Earnings Results, Beats Estimates By $0.01 EPS

Select Water Solutions (NYSE:WTTR) announced its earnings results on Tuesday. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01, Briefing.com reports. The company had revenue of $371.35 million during the quarter, compared to the consensus estimate of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.70%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share.

Select Water Solutions Stock Down 1.7 %

Shares of NYSE WTTR traded down $0.24 during mid-day trading on Friday, hitting $14.02. The company had a trading volume of 113,120 shares, compared to its average volume of 1,031,359. The company has a current ratio of 1.81, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The firm has a 50-day simple moving average of $11.14 and a two-hundred day simple moving average of $10.73. The company has a market capitalization of $1.67 billion, a PE ratio of 24.16 and a beta of 1.67. Select Water Solutions has a one year low of $6.99 and a one year high of $14.48.

Select Water Solutions Increases Dividend

The firm also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, November 5th. Select Water Solutions’s dividend payout ratio is currently 47.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WTTR. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and raised their target price for the company from $11.50 to $14.50 in a research note on Thursday, August 22nd. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

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.