Zacks: Brokerages Anticipate Select Energy Services Inc (WTTR) Will Post Quarterly Sales of $362.76 Million

Equities analysts predict that Select Energy Services Inc (NYSE:WTTR) will announce sales of $362.76 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Select Energy Services’ earnings. The lowest sales estimate is $350.00 million and the highest is $370.60 million. Select Energy Services posted sales of $393.25 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.8%. The business is scheduled to issue its next earnings report on Thursday, August 8th.

On average, analysts expect that Select Energy Services will report full-year sales of $1.48 billion for the current year, with estimates ranging from $1.41 billion to $1.52 billion. For the next year, analysts forecast that the company will post sales of $1.65 billion, with estimates ranging from $1.57 billion to $1.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Select Energy Services.

Select Energy Services (NYSE:WTTR) last issued its earnings results on Tuesday, May 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Select Energy Services had a return on equity of 6.11% and a net margin of 1.82%. The company had revenue of $362.65 million for the quarter, compared to analyst estimates of $360.60 million.

WTTR has been the topic of a number of research reports. Piper Jaffray Companies set a $14.00 target price on Select Energy Services and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Credit Suisse Group set a $12.00 price target on Select Energy Services and gave the company a “buy” rating in a research report on Friday, March 1st. Royal Bank of Canada set a $15.00 price target on Select Energy Services and gave the company a “buy” rating in a research report on Thursday, February 28th. Wells Fargo & Co set a $14.00 price target on Select Energy Services and gave the company a “buy” rating in a research report on Thursday, February 28th. Finally, B. Riley reissued a “buy” rating and issued a $19.00 price target (up from $18.00) on shares of Select Energy Services in a research report on Thursday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Select Energy Services has a consensus rating of “Buy” and an average price target of $15.80.

Shares of NYSE:WTTR opened at $11.35 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.15 and a debt-to-equity ratio of 0.09. Select Energy Services has a twelve month low of $6.05 and a twelve month high of $17.86. The company has a market cap of $1.21 billion, a PE ratio of 13.20 and a beta of 3.10.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in shares of Select Energy Services by 19.4% during the 4th quarter. Legal & General Group Plc now owns 8,152 shares of the company’s stock valued at $51,000 after purchasing an additional 1,326 shares during the last quarter. NumerixS Investment Technologies Inc increased its position in shares of Select Energy Services by 22.8% during the 4th quarter. NumerixS Investment Technologies Inc now owns 11,300 shares of the company’s stock valued at $73,000 after purchasing an additional 2,100 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Select Energy Services by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,515 shares of the company’s stock valued at $98,000 after purchasing an additional 12,117 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Select Energy Services by 579.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,617 shares of the company’s stock valued at $116,000 after purchasing an additional 8,202 shares during the last quarter. Finally, CoreCommodity Management LLC purchased a new stake in shares of Select Energy Services during the 4th quarter valued at $125,000. 58.63% of the stock is owned by institutional investors and hedge funds.

Select Energy Services Company Profile

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary pipe; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.

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