Select Water Solutions (NYSE:WTTR) Releases Quarterly Earnings Results

Select Water Solutions (NYSE:WTTR) released 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. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. The firm had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year.

Select Water Solutions Stock Up 6.0 %

Shares of WTTR stock traded up $0.63 during mid-day trading on Tuesday, reaching $11.13. 1,154,080 shares of the company were exchanged, compared to its average volume of 1,019,194. The company has a market capitalization of $1.32 billion, a P/E ratio of 19.19 and a beta of 1.67. The business’s 50 day simple moving average is $11.04 and its 200 day simple moving average is $10.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 1.81. Select Water Solutions has a fifty-two week low of $6.99 and a fifty-two week high of $12.27.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.07 per share. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.28 annualized dividend and a yield of 2.52%. Select Water Solutions’s payout ratio is 41.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WTTR. Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and upped their price target for the company from $11.50 to $14.50 in a research report 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.