Select Energy Services Inc (WTTR) Expected to Post Quarterly Sales of $362.84 Million

Equities analysts predict that Select Energy Services Inc (NYSE:WTTR) will announce sales of $362.84 million for the current quarter, Zacks reports. Five analysts have provided estimates for Select Energy Services’ earnings, with the highest sales estimate coming in at $370.60 million and the lowest estimate coming in at $350.00 million. Select Energy Services posted sales of $393.25 million in the same quarter last year, which would indicate a negative year over year growth rate of 7.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Select Energy Services will report full-year sales of $1.47 billion for the current year, with estimates ranging from $1.41 billion to $1.52 billion. For the next year, analysts anticipate that the firm will report sales of $1.63 billion, with estimates ranging from $1.53 billion to $1.74 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Select Energy Services.

Select Energy Services (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $362.65 million during the quarter, compared to analysts’ expectations of $360.60 million. Select Energy Services had a return on equity of 6.11% and a net margin of 1.82%.

WTTR has been the subject of several recent analyst reports. Zacks Investment Research restated a “buy” rating and issued a $13.00 price target on shares of Select Energy Services in a report on Saturday. B. Riley restated a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Select Energy Services in a report on Thursday, February 28th. ValuEngine upgraded Select Energy Services from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 12th. Royal Bank of Canada set a $15.00 price target on Select Energy Services and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, Credit Suisse Group set a $12.00 price target on Select Energy Services and gave the company a “buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $15.80.

Select Energy Services stock traded up $0.02 during midday trading on Friday, reaching $11.54. 8,540 shares of the company were exchanged, compared to its average volume of 478,026. The stock has a market cap of $1.21 billion, a PE ratio of 13.51 and a beta of 3.10. Select Energy Services has a 1 year low of $6.05 and a 1 year high of $17.86. The company has a current ratio of 2.24, a quick ratio of 2.02 and a debt-to-equity ratio of 0.09.

In other Select Energy Services news, EVP Mitchell Shauf sold 20,000 shares of Select Energy Services stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $11.14, for a total value of $222,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.22% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 22NW LP lifted its stake in shares of Select Energy Services by 102.0% in the 1st quarter. 22NW LP now owns 348,963 shares of the company’s stock valued at $4,195,000 after purchasing an additional 176,198 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Select Energy Services in the 1st quarter valued at about $471,000. Geode Capital Management LLC lifted its stake in shares of Select Energy Services by 12.2% in the 1st quarter. Geode Capital Management LLC now owns 660,681 shares of the company’s stock valued at $7,941,000 after purchasing an additional 71,821 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Select Energy Services by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 310,983 shares of the company’s stock worth $3,739,000 after acquiring an additional 18,023 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Select Energy Services during the 1st quarter worth approximately $5,356,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.

Select Energy Services Company Profile

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural 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 pipe; 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.

See Also: Gross Domestic Product (GDP)

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Earnings History and Estimates for Select Energy Services (NYSE:WTTR)

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