Select Water Solutions (NYSE:WTTR) Announces Quarterly Earnings Results

Select Water Solutions (NYSE:WTTR) announced its quarterly earnings data on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01, Briefing.com reports. Select Water Solutions had a return on equity of 6.56% and a net margin of 3.91%. The firm had revenue of $371.35 million for the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Select Water Solutions’s revenue for the quarter was down 4.6% compared to the same quarter last year.

Select Water Solutions Stock Up 6.0 %

Shares of Select Water Solutions stock opened at $11.13 on Wednesday. Select Water Solutions has a twelve month low of $6.99 and a twelve month high of $12.27. The company has a current ratio of 1.81, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 19.19 and a beta of 1.67. The business’s 50 day simple moving average is $11.03 and its 200-day simple moving average is $10.68.

Select Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 5th. Select Water Solutions’s dividend payout ratio is presently 41.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WTTR. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $11.50 to $14.50 in a research 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 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.