Q1 2019 Earnings Forecast for Flotek Industries, Inc. Issued By Seaport Global Securities (FTK)

Flotek Industries, Inc. (NYSE:FTK) – Equities research analysts at Seaport Global Securities decreased their Q1 2019 EPS estimates for Flotek Industries in a research note issued on Wednesday. Seaport Global Securities analyst M. Brown now anticipates that the oil and gas company will post earnings of $0.28 per share for the quarter, down from their previous forecast of $0.33. Seaport Global Securities also issued estimates for Flotek Industries’ FY2019 earnings at $1.18 EPS.

Flotek Industries (NYSE:FTK) last posted its earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. Flotek Industries had a negative net margin of 10.43% and a negative return on equity of 3.38%. The company had revenue of $80 million for the quarter, compared to analyst estimates of $78.85 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The firm’s revenue was up 25.4% compared to the same quarter last year.

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Earnings History and Estimates for Flotek Industries (NYSE:FTK)

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Flotek Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. ValuEngine lowered shares of Flotek Industries from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd.

Flotek Industries (NYSE FTK) traded up 2.52% during midday trading on Thursday, hitting $8.15. 531,593 shares of the company were exchanged. The firm’s market capitalization is $466.62 million. Flotek Industries has a 1-year low of $7.96 and a 1-year high of $16.93. The stock has a 50 day moving average of $9.99 and a 200 day moving average of $11.03.

Hedge funds and other institutional investors have recently modified their holdings of the company. Skylands Capital LLC increased its position in shares of Flotek Industries by 14.5% in the first quarter. Skylands Capital LLC now owns 73,150 shares of the oil and gas company’s stock valued at $936,000 after buying an additional 9,250 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of Flotek Industries by 0.7% in the first quarter. GW&K Investment Management LLC now owns 1,271,862 shares of the oil and gas company’s stock valued at $16,267,000 after buying an additional 9,051 shares in the last quarter. Creative Planning increased its position in shares of Flotek Industries by 0.3% in the first quarter. Creative Planning now owns 120,778 shares of the oil and gas company’s stock valued at $1,545,000 after buying an additional 400 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Flotek Industries by 12.5% in the fourth quarter. Teachers Advisors LLC now owns 108,511 shares of the oil and gas company’s stock valued at $1,019,000 after buying an additional 12,050 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Flotek Industries during the fourth quarter valued at about $626,000.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

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