Flotek Industries (NYSE:FTK) Issues Earnings Results, Beats Expectations By $0.01 EPS

Flotek Industries (NYSE:FTK) posted its quarterly earnings data on Monday. The oil and gas company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01, Zacks reports. The company had revenue of $49.74 million during the quarter, compared to analyst estimates of $50.40 million. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. During the same period in the previous year, the business earned $0.04 EPS.

Flotek Industries Stock Performance

Shares of Flotek Industries stock traded up $0.76 during trading hours on Tuesday, reaching $5.76. 116,403 shares of the company were exchanged, compared to its average volume of 75,633. Flotek Industries has a 1 year low of $2.64 and a 1 year high of $5.77. The stock’s fifty day moving average is $4.75 and its 200 day moving average is $4.41. The firm has a market cap of $171.71 million, a PE ratio of 25.77 and a beta of 1.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FTK shares. Roth Mkm initiated coverage on shares of Flotek Industries in a report on Thursday, July 25th. They set a “buy” rating and a $6.50 price target for the company. Roth Capital upgraded Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.75.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).