Flotek Industries, Inc. (FTK) to Post Q2 2017 Earnings of $0.04 Per Share, Seaport Global Securities Forecasts
Flotek Industries, Inc. (NYSE:FTK) – Analysts at Seaport Global Securities issued their Q2 2017 EPS estimates for shares of Flotek Industries in a research note issued to investors on Thursday. Seaport Global Securities analyst S. Randhawa expects that the oil and gas company will post earnings of $0.04 per share for the quarter. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Flotek Industries’ Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.31 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $0.87 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.26 EPS and 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, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $80 million during the quarter, compared to the consensus estimate of $78.85 million. Flotek Industries had a negative return on equity of 3.38% and a negative net margin of 10.43%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. WARNING: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/24/flotek-industries-inc-ftk-to-post-q2-2017-earnings-of-0-04-per-share-seaport-global-securities-forecasts.html.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, May 8th. ValuEngine downgraded Flotek Industries from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd.
Shares of Flotek Industries (NYSE FTK) opened at 8.55 on Monday. The stock’s market capitalization is $489.52 million. Flotek Industries has a 1-year low of $7.68 and a 1-year high of $16.93. The firm’s 50-day moving average price is $9.01 and its 200 day moving average price is $10.77.
A number of institutional investors have recently modified their holdings of FTK. First Mercantile Trust Co. bought a new position in shares of Flotek Industries during the first quarter worth approximately $112,000. KCG Holdings Inc. acquired a new stake in Flotek Industries during the first quarter worth $137,000. BNP Paribas Arbitrage SA boosted its stake in Flotek Industries by 12.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,044 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,209 shares during the period. RNC Capital Management LLC boosted its stake in Flotek Industries by 10.0% in the first quarter. RNC Capital Management LLC now owns 11,035 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,000 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Flotek Industries by 7.6% in the first quarter. Mason Street Advisors LLC now owns 12,664 shares of the oil and gas company’s stock worth $162,000 after buying an additional 893 shares during the period. Institutional investors own 99.50% of the company’s stock.
About Flotek Industries
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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