Shares of Select Water Solutions, Inc. (NYSE:WTTR – Get Free Report) were down 5.2% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $15.24 and last traded at $15.3370. 1,520,285 shares were traded during trading, a decline of 10% from the average daily volume of 1,689,169 shares. The stock had previously closed at $16.18.
The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $412.19 million for the quarter, compared to analysts’ expectations of $397.96 million. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share.
Select Water Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 13th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, November 13th. Select Water Solutions’s payout ratio is 100.00%.
Trending Headlines about Select Water Solutions
Here are the key news stories impacting Select Water Solutions this week:
- Positive Sentiment: Third-quarter revenue rose 28% year over year to $412 million, beating the roughly $398 million analyst consensus. Net income increased to $23 million, while adjusted EBITDA grew 57% to $93 million. Company results and updates
- Positive Sentiment: Water Infrastructure delivered record revenue of $110 million, up 40% year over year, highlighting growth in a key business segment. Select also closed its acquisition of Pilot Water Solutions after quarter-end, expanding its water midstream presence in the Delaware Basin. Q3 results coverage
- Neutral Sentiment: Select completed a recapitalization and sale of a majority interest in Peak Rentals during the quarter; the supplied report does not quantify the transaction’s effect on ongoing earnings. Company results and updates
- Negative Sentiment: EPS was $0.16, below analyst estimates of $0.17–$0.18. Although earnings improved from $0.03 a year earlier, the quarterly shortfall may be overshadowing the revenue beat and growth figures. Earnings estimates report
Wall Street Analyst Weigh In
A number of analysts recently weighed in on WTTR shares. UBS Group reissued a “buy” rating and issued a $28.00 price objective on shares of Select Water Solutions in a research report on Wednesday, September 30th. Raymond James Financial cut shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $24.00 to $26.00 in a research report on Thursday, August 6th. Wall Street Zen cut Select Water Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. JPMorgan Chase & Co. assumed coverage on Select Water Solutions in a research note on Friday, August 21st. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Bank of America raised their price target on shares of Select Water Solutions from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Select Water Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $24.57.
Get Our Latest Stock Report on WTTR
Hedge Funds Weigh In On Select Water Solutions
Several hedge funds and other institutional investors have recently bought and sold shares of WTTR. Nisa Investment Advisors LLC raised its holdings in shares of Select Water Solutions by 2.4% during the third quarter. Nisa Investment Advisors LLC now owns 47,620 shares of the company’s stock worth $942,000 after purchasing an additional 1,130 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Select Water Solutions by 41.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,381 shares of the company’s stock valued at $86,000 after buying an additional 1,275 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Select Water Solutions by 3.5% during the 1st quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock valued at $645,000 after buying an additional 1,438 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Select Water Solutions by 1.4% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 107,679 shares of the company’s stock valued at $2,131,000 after buying an additional 1,507 shares during the period. Finally, EagleClaw Capital Managment LLC boosted its stake in shares of Select Water Solutions by 5.9% in the third quarter. EagleClaw Capital Managment LLC now owns 39,200 shares of the company’s stock worth $776,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.
Select Water Solutions Stock Down 6.1%
The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.10 billion, a PE ratio of 54.62 and a beta of 0.98. The business has a 50 day moving average price of $19.40 and a 200 day moving average price of $17.46.
About Select Water Solutions
Select Water Solutions, Inc provides water-management and chemical services to oil and natural gas exploration and production companies. Its services support drilling, completions and ongoing production, with a focus on managing water used in and generated by energy operations.
The company’s offerings include water sourcing, transfer, treatment, recycling and disposal, as well as water infrastructure such as pipelines and related facilities. It also supplies specialty chemicals and technical services designed for oilfield operations.
Formerly known as Select Energy Services, the company serves customers in major U.S.
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