Select Water Solutions (NYSE:WTTR) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Select Water Solutions Trading Up 6.0 %

NYSE:WTTR traded up $0.63 on Tuesday, reaching $11.13. 1,154,080 shares of the company’s stock were exchanged, compared to its average volume of 1,019,194. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 19.19 and a beta of 1.67. Select Water Solutions has a 52-week low of $6.99 and a 52-week high of $12.27. The company has a quick ratio of 1.63, a current ratio of 1.81 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $11.04 and a 200-day moving average of $10.67.

Select Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s payout ratio is currently 41.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WTTR. Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd.

About Select Water Solutions

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.