Seaport Res Ptn Has Negative Outlook of WTTR FY2024 Earnings

Select Water Solutions, Inc. (NYSE:WTTR) – Research analysts at Seaport Res Ptn lowered their FY2024 earnings per share estimates for shares of Select Water Solutions in a research note issued to investors on Thursday, November 7th. Seaport Res Ptn analyst T. Curran now anticipates that the company will earn $0.41 per share for the year, down from their previous estimate 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.

A number of other brokerages have also commented on WTTR. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd.

Select Water Solutions Stock Performance

Shares of WTTR stock opened at $13.64 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.63. The firm has a market cap of $1.62 billion, a P/E ratio of 23.12 and a beta of 1.67. The stock’s 50-day moving average is $11.23 and its two-hundred day moving average is $10.81. Select Water Solutions has a fifty-two week low of $6.99 and a fifty-two week high of $14.48.

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

Select Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is 47.46%.

Hedge Funds Weigh In On Select Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of WTTR. GAMMA Investing LLC raised its position in Select Water Solutions by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock valued at $32,000 after purchasing an additional 1,096 shares during the last quarter. Innealta Capital LLC bought a new position in Select Water Solutions during the second quarter worth about $34,000. CWM LLC lifted its holdings in Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $45,000 after acquiring an additional 1,496 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Select Water Solutions by 13.8% in the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock valued at $93,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Select Water Solutions in the third quarter valued at about $112,000. Institutional investors own 81.73% of the company’s stock.

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.