Equities Analysts Issue Forecasts for Select Water Solutions, Inc.’s Q1 2024 Earnings (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) – Equities research analysts at Northland Capmk issued their Q1 2024 EPS estimates for Select Water Solutions in a research report issued to clients and investors on Monday, April 22nd. Northland Capmk analyst B. Brooks forecasts that the company will post earnings of $0.08 per share for the quarter. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.73 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.04 EPS.

Separately, Northland Securities began coverage on shares of Select Water Solutions in a research report on Monday. They issued a “market perform” rating and a $11.50 price target for the company.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $9.36 on Wednesday. The company has a market capitalization of $1.11 billion, a PE ratio of 12.82 and a beta of 1.66. Select Water Solutions has a fifty-two week low of $6.78 and a fifty-two week high of $9.74. The company has a 50 day simple moving average of $8.87 and a two-hundred day simple moving average of $7.94.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.11. Select Water Solutions had a return on equity of 8.46% and a net margin of 4.69%. The company had revenue of $374.90 million during the quarter, compared to the consensus estimate of $378.12 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Tuesday, February 6th. Select Water Solutions’s payout ratio is 32.88%.

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, CAO Brian Szymanski sold 6,422 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $8.60, for a total value of $55,229.20. Following the completion of the sale, the chief accounting officer now owns 95,936 shares of the company’s stock, valued at $825,049.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Brian Szymanski sold 6,422 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $8.60, for a total transaction of $55,229.20. Following the completion of the sale, the chief accounting officer now owns 95,936 shares of the company’s stock, valued at $825,049.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher Kile George sold 23,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total value of $198,490.00. Following the sale, the senior vice president now directly owns 255,587 shares of the company’s stock, valued at approximately $2,205,715.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,511 shares of company stock valued at $398,053. 8.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its holdings in Select Water Solutions by 230.6% in the first quarter. Assenagon Asset Management S.A. now owns 406,106 shares of the company’s stock worth $3,748,000 after purchasing an additional 283,269 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Select Water Solutions by 428.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 137,709 shares of the company’s stock valued at $1,271,000 after acquiring an additional 111,656 shares in the last quarter. Bridge City Capital LLC increased its holdings in shares of Select Water Solutions by 2.9% during the first quarter. Bridge City Capital LLC now owns 273,698 shares of the company’s stock valued at $2,526,000 after acquiring an additional 7,777 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Select Water Solutions during the fourth quarter valued at $156,000. Finally, Wellington Management Group LLP increased its holdings in shares of Select Water Solutions by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 4,699,066 shares of the company’s stock valued at $35,666,000 after acquiring an additional 145,714 shares in the last quarter. Institutional investors own 81.73% of the company’s stock.

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.