Analysts Offer Predictions for Select Water Solutions, Inc.’s Q1 2024 Earnings (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) – Northland Capmk issued their Q1 2024 EPS estimates for shares of Select Water Solutions in a report issued on Monday, April 22nd. Northland Capmk analyst B. Brooks expects that the company will post earnings of $0.08 per share for the quarter. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.73 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.04 EPS.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.11. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The firm had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $378.12 million. During the same period in the previous year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis.

Separately, Northland Securities started coverage on shares of Select Water Solutions in a research report on Monday. They set a “market perform” rating and a $11.50 price objective for the company.

Select Water Solutions Price Performance

WTTR opened at $9.39 on Wednesday. The company has a 50 day simple moving average of $8.83 and a two-hundred day simple moving average of $7.92. Select Water Solutions has a 1-year low of $6.78 and a 1-year high of $9.74. The firm has a market cap of $1.11 billion, a P/E ratio of 12.86 and a beta of 1.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Select Water Solutions by 428.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 137,709 shares of the company’s stock valued at $1,271,000 after buying an additional 111,656 shares during the period. Bridge City Capital LLC raised its position in shares of Select Water Solutions by 2.9% during the 1st quarter. Bridge City Capital LLC now owns 273,698 shares of the company’s stock valued at $2,526,000 after acquiring an additional 7,777 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Select Water Solutions during the 4th quarter valued at approximately $156,000. Wellington Management Group LLP raised its position in shares of Select Water Solutions by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 4,699,066 shares of the company’s stock valued at $35,666,000 after acquiring an additional 145,714 shares in the last quarter. Finally, Palogic Value Management L.P. grew its stake in Select Water Solutions by 28.2% during the 4th quarter. Palogic Value Management L.P. now owns 341,300 shares of the company’s stock worth $2,590,000 after buying an additional 75,000 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Insider Activity at Select Water Solutions

In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the transaction, the senior vice president now owns 255,587 shares of the company’s stock, valued at $2,205,715.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Brian Szymanski sold 6,422 shares of Select Water Solutions stock in a transaction on Monday, February 26th. The shares were sold at an average price of $8.60, for a total value of $55,229.20. Following the transaction, the chief accounting officer now directly owns 95,936 shares in the company, valued at approximately $825,049.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher Kile George sold 23,000 shares of Select Water Solutions stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the transaction, the senior vice president now owns 255,587 shares in the company, valued at $2,205,715.81. The disclosure for this sale can be found here. Insiders sold a total of 46,511 shares of company stock worth $398,053 in the last three months. Company insiders own 8.10% of the company’s stock.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Tuesday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is currently 32.88%.

Select Water Solutions Company Profile

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.