$289.28 Million in Sales Expected for Select Energy Services Inc (NYSE:WTTR) This Quarter

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Analysts expect that Select Energy Services Inc (NYSE:WTTR) will post $289.28 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Select Energy Services’ earnings, with the highest sales estimate coming in at $291.49 million and the lowest estimate coming in at $286.34 million. Select Energy Services reported sales of $362.32 million during the same quarter last year, which would suggest a negative year over year growth rate of 20.2%. The business is scheduled to issue its next earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Select Energy Services will report full year sales of $1.30 billion for the current year, with estimates ranging from $1.30 billion to $1.31 billion. For the next year, analysts anticipate that the business will report sales of $1.26 billion, with estimates ranging from $1.22 billion to $1.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Select Energy Services.

Select Energy Services (NYSE:WTTR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). The company had revenue of $329.00 million for the quarter, compared to analyst estimates of $314.57 million. Select Energy Services had a positive return on equity of 3.57% and a negative net margin of 0.06%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS.

Several research analysts have recently weighed in on WTTR shares. Wells Fargo & Co lowered their price target on shares of Select Energy Services from $10.50 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, September 12th. ValuEngine upgraded shares of Select Energy Services from a “sell” rating to a “hold” rating in a research report on Saturday, November 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $10.00 target price on shares of Select Energy Services in a research note on Thursday, August 8th. Finally, TheStreet lowered shares of Select Energy Services from a “c-” rating to a “d+” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Select Energy Services has a consensus rating of “Buy” and an average target price of $13.29.

Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new position in shares of Select Energy Services during the 2nd quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Select Energy Services by 79.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,845 shares of the company’s stock valued at $33,000 after buying an additional 1,697 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Select Energy Services during the third quarter worth about $34,000. Oppenheimer Asset Management Inc. purchased a new position in Select Energy Services during the second quarter worth about $55,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Select Energy Services during the second quarter valued at about $139,000. 57.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of WTTR traded up $0.26 during midday trading on Tuesday, reaching $8.10. The company had a trading volume of 318,491 shares, compared to its average volume of 474,180. Select Energy Services has a 1-year low of $6.05 and a 1-year high of $12.75. The company has a quick ratio of 2.32, a current ratio of 2.56 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $7.65 and a 200-day simple moving average of $9.19. The stock has a market cap of $815.64 million, a PE ratio of 9.42 and a beta of 2.67.

About Select Energy Services

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.

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