FY2019 EPS Estimates for Select Energy Services Inc (NYSE:WTTR) Cut by Analyst

Select Energy Services Inc (NYSE:WTTR) – Analysts at Piper Jaffray Companies dropped their FY2019 earnings estimates for shares of Select Energy Services in a report issued on Tuesday, November 12th. Piper Jaffray Companies analyst I. Macpherson now expects that the company will post earnings per share of $0.29 for the year, down from their previous forecast of $0.32. Piper Jaffray Companies also issued estimates for Select Energy Services’ Q4 2019 earnings at $0.00 EPS, Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.01 EPS, FY2020 earnings at $0.10 EPS, Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at $0.09 EPS, Q3 2021 earnings at $0.10 EPS and FY2021 earnings at $0.29 EPS.

Several other analysts also recently issued reports on WTTR. Royal Bank of Canada reissued a “buy” rating and issued a $10.00 price target on shares of Select Energy Services in a research report on Thursday, August 8th. TheStreet downgraded shares of Select Energy Services from a “c-” rating to a “d+” rating in a research report on Tuesday, September 3rd. ValuEngine downgraded shares of Select Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Co reduced their price target on shares of Select Energy Services from $10.50 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Select Energy Services has an average rating of “Buy” and an average price target of $13.50.

NYSE WTTR opened at $7.57 on Friday. The company has a fifty day simple moving average of $7.90 and a 200 day simple moving average of $9.60. Select Energy Services has a 12-month low of $6.05 and a 12-month high of $12.75. The company has a current ratio of 2.56, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $851.75 million, a P/E ratio of 8.80 and a beta of 2.69.

Select Energy Services (NYSE:WTTR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Select Energy Services had a negative net margin of 0.06% and a positive return on equity of 3.57%. The business had revenue of $329.00 million during the quarter, compared to analyst estimates of $314.57 million. During the same period in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC purchased a new position in Select Energy Services during the 2nd quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Select Energy Services by 79.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,845 shares of the company’s stock worth $33,000 after acquiring an additional 1,697 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Select Energy Services during the 3rd quarter worth $34,000. Oppenheimer Asset Management Inc. purchased a new position in Select Energy Services during the 2nd quarter worth $55,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Select Energy Services during the 2nd quarter worth $139,000. 57.51% of the stock is currently owned by hedge funds and other institutional investors.

About Select Energy Services

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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Earnings History and Estimates for Select Energy Services (NYSE:WTTR)

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