Flotek Industries (FTK) Announces Quarterly Results
Flotek Industries (NYSE:FTK) issued its quarterly earnings data on Monday. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.02, StockRatingsNetwork.com reports. The company had revenue of $100.80 million for the quarter, compared to the consensus estimate of $100.00 million. During the same quarter last year, the company posted $0.44 earnings per share. Flotek Industries’s revenue was up 31.4% compared to the same quarter last year.
FTK has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Flotek Industries from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, January 20th. They now have a $19.80 price target on the stock. On the ratings front, analysts at Johnson Rice initiated coverage on shares of Flotek Industries in a research note to investors on Monday, January 13th. They set an “overweight” rating on the stock. Finally, analysts at Iberia Capital initiated coverage on shares of Flotek Industries in a research note to investors on Friday, December 13th. They set an “outperform” rating on the stock.
In other Flotek Industries news, CEO John Chisholm sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.91, for a total value of $1,045,500.00. Following the sale, the chief executive officer now directly owns 366,445 shares of the company’s stock, valued at approximately $7,662,365. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Flotek Industries (NYSE:FTK) traded up 2.18% on Monday, hitting $23.89. The stock had a trading volume of 1,523,557 shares. Flotek Industries has a 1-year low of $13.18 and a 1-year high of $23.90. The stock’s 50-day moving average is $20. and its 200-day moving average is $20.71. The company has a market cap of $1.234 billion and a P/E ratio of 25.75.
Flotek Industries, Inc (NYSE:FTK), is a diversified global supplier of drilling and production related products and services.
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