Roth Capital Comments on Flotek Industries, Inc.’s FY2024 Earnings (NYSE:FTK)

Flotek Industries, Inc. (NYSE:FTK) – Equities researchers at Roth Capital boosted their FY2024 earnings estimates for Flotek Industries in a research report issued to clients and investors on Friday, August 9th. Roth Capital analyst G. Sweeney now forecasts that the oil and gas company will post earnings of $0.27 per share for the year, up from their previous estimate of $0.26. Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for Flotek Industries’ current full-year earnings is $0.26 per share. Roth Capital also issued estimates for Flotek Industries’ FY2025 earnings at $0.41 EPS.

Flotek Industries (NYSE:FTK) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Flotek Industries had a return on equity of 1.77% and a net margin of 2.73%. The business had revenue of $46.15 million for the quarter, compared to analysts’ expectations of $46.60 million. During the same period in the previous year, the firm posted ($0.24) EPS.

Several other equities research analysts also recently commented on FTK. Alliance Global Partners began coverage on shares of Flotek Industries in a research report on Monday, April 29th. They issued a “buy” rating and a $7.00 price target for the company. Roth Mkm began coverage on Flotek Industries in a report on Thursday, July 25th. They issued a “buy” rating and a $6.50 target price for the company. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $6.75.

Flotek Industries Trading Down 0.5 %

NYSE FTK opened at $4.13 on Monday. Flotek Industries has a 1 year low of $2.64 and a 1 year high of $5.70. The stock’s 50-day moving average price is $4.60 and its two-hundred day moving average price is $3.83. The company has a market cap of $122.48 million, a PE ratio of 103.25 and a beta of 1.08.

Institutional Investors Weigh In On Flotek Industries

A number of institutional investors have recently modified their holdings of FTK. Pingora Partners LLC purchased a new stake in shares of Flotek Industries during the fourth quarter worth $46,000. Sanders Morris Harris LLC acquired a new position in Flotek Industries in the 1st quarter worth about $223,000. Masters Capital Management LLC raised its stake in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after purchasing an additional 18,524 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Flotek Industries by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after buying an additional 39,695 shares during the last quarter. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).