Flotek Industries (NYSE:FTK) Announces Quarterly Earnings Results

Flotek Industries (NYSE:FTK) released its earnings results on Monday. The oil and gas company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01, Zacks reports. The business had revenue of $49.74 million for 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 quarter last year, the firm posted $0.04 earnings per share.

Flotek Industries Trading Up 15.8 %

Shares of Flotek Industries stock traded up $0.79 during trading on Tuesday, hitting $5.79. 141,597 shares of the stock traded hands, compared to its average volume of 75,676. The stock’s fifty day simple moving average is $4.75 and its 200 day simple moving average is $4.41. The firm has a market cap of $172.60 million, a P/E ratio of 25.77 and a beta of 1.04. Flotek Industries has a 52-week low of $2.64 and a 52-week high of $5.80.

Analysts Set New Price Targets

Several research analysts recently commented on FTK shares. Roth Capital raised shares of Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th. Roth Mkm began coverage on shares of Flotek Industries in a research note on Thursday, July 25th. They issued a “buy” rating and a $6.50 target price on the stock. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Flotek Industries has a consensus rating of “Buy” and an average price target 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).