What is Seaport Res Ptn’s Forecast for WTTR FY2024 Earnings?

Select Water Solutions, Inc. (NYSE:WTTR) – Equities researchers at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of Select Water Solutions in a note issued to investors on Thursday, November 7th. Seaport Res Ptn analyst T. Curran now expects that the company will post earnings per share of $0.41 for the year, down from their prior forecast of $0.48. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.40 per share. Seaport Res Ptn also issued estimates for Select Water Solutions’ Q4 2024 earnings at $0.10 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.28 EPS and FY2025 earnings at $0.94 EPS.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The company had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. During the same quarter last year, the business earned $0.14 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the company. Northland Capmk raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd.

Select Water Solutions Trading Up 1.9 %

WTTR stock opened at $13.90 on Monday. Select Water Solutions has a 52-week low of $6.99 and a 52-week high of $14.48. The company has a quick ratio of 1.63, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.65 billion, a P/E ratio of 23.55 and a beta of 1.67. The company’s 50-day simple moving average is $11.29 and its 200-day simple moving average is $10.84.

Select Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s payout ratio is currently 47.46%.

Institutional Investors Weigh In On Select Water Solutions

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Select Water Solutions by 1,328.1% in the second quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company’s stock valued at $40,344,000 after buying an additional 3,506,479 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Select Water Solutions by 87.3% during the 2nd quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock worth $20,438,000 after purchasing an additional 890,470 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Select Water Solutions by 148.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock valued at $12,478,000 after purchasing an additional 669,301 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Select Water Solutions in the second quarter valued at approximately $5,134,000. Finally, Webs Creek Capital Management LP increased its holdings in shares of Select Water Solutions by 16.1% in the first quarter. Webs Creek Capital Management LP now owns 2,208,733 shares of the company’s stock valued at $20,387,000 after purchasing an additional 306,547 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About Select Water Solutions

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.