Flotek Industries Inc. (NYSE:FTK) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 19th. Analysts expect Flotek Industries to post earnings of ($0.02) per share for the quarter.
Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. Flotek Industries had a negative return on equity of 2.24% and a negative net margin of 10.29%. The business earned $72.32 million during the quarter, compared to analysts’ expectations of $65 million. During the same quarter last year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, analysts expect Flotek Industries to post $-0.15 EPS for the current fiscal year and $0.41 EPS for the next fiscal year.
Flotek Industries Inc. (NYSE:FTK) opened at 13.81 on Monday. The stock’s market cap is $744.48 million. The stock has a 50 day moving average price of $14.69 and a 200-day moving average price of $12.56. Flotek Industries Inc. has a 12 month low of $4.89 and a 12 month high of $19.90.
In related news, Director L Melvin Cooper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the transaction, the director now owns 92,475 shares in the company, valued at approximately $1,480,524.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Waddell & Reed Financial Inc. raised its position in shares of Flotek Industries by 99.5% in the second quarter. Waddell & Reed Financial Inc. now owns 3,364,346 shares of the company’s stock worth $44,409,000 after buying an additional 1,677,600 shares during the period. Riverhead Capital Management LLC raised its position in shares of Flotek Industries by 7.0% in the second quarter. Riverhead Capital Management LLC now owns 13,464 shares of the company’s stock worth $252,000 after buying an additional 886 shares during the period. Allianz Asset Management AG acquired a new position in shares of Flotek Industries during the second quarter worth about $1,640,000. Piermont Capital Management Inc. acquired a new position in shares of Flotek Industries during the second quarter worth about $2,702,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Flotek Industries by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 25,820 shares of the company’s stock worth $341,000 after buying an additional 1,340 shares during the period. Institutional investors own 94.88% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Flotek Industries from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Stephens reiterated a “top pick” rating on shares of Flotek Industries in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Flotek Industries presently has a consensus rating of “Buy” and a consensus target price of $10.81.
Flotek Industries Company Profile
Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.
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