FY2018 Earnings Forecast for Select Energy Services Issued By Piper Jaffray (WTTR)

Select Energy Services (NYSE:WTTR) – Equities research analysts at Piper Jaffray raised their FY2018 earnings per share (EPS) estimates for Select Energy Services in a research note issued to investors on Thursday, May 17th. Piper Jaffray analyst I. Macpherson now anticipates that the company will post earnings of $0.84 per share for the year, up from their prior forecast of $0.77. Piper Jaffray has a “Buy” rating and a $18.00 price target on the stock. Piper Jaffray also issued estimates for Select Energy Services’ FY2019 earnings at $1.32 EPS.

Select Energy Services (NYSE:WTTR) last released its quarterly earnings results on Thursday, May 10th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.08. The company had revenue of $376.40 million for the quarter, compared to analyst estimates of $376.65 million. Select Energy Services had a negative net margin of 0.18% and a positive return on equity of 2.59%. The firm’s revenue was up 276.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share.

Several other research firms have also commented on WTTR. B. Riley raised their price target on shares of Select Energy Services from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, January 26th. ValuEngine lowered shares of Select Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Citigroup upgraded shares of Select Energy Services from a “sell” rating to a “neutral” rating and set a $17.00 price target on the stock in a research report on Tuesday, February 13th. Seaport Global Securities restated a “buy” rating on shares of Select Energy Services in a research report on Thursday, April 19th. Finally, Stephens began coverage on shares of Select Energy Services in a research report on Thursday, April 12th. They set an “overweight” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.67.

WTTR stock opened at $17.07 on Friday. The firm has a market cap of $1.82 billion and a P/E ratio of 21.34. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.09. Select Energy Services has a one year low of $17.50 and a one year high of $17.73.

Large investors have recently bought and sold shares of the company. First Dallas Securities Inc. purchased a new position in shares of Select Energy Services in the fourth quarter worth about $136,000. Strs Ohio lifted its stake in shares of Select Energy Services by 185.2% in the fourth quarter. Strs Ohio now owns 7,700 shares of the company’s stock worth $140,000 after buying an additional 5,000 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Select Energy Services in the fourth quarter worth about $176,000. Salzhauer Michael purchased a new position in shares of Select Energy Services in the first quarter worth about $126,000. Finally, Koch Industries Inc. purchased a new position in shares of Select Energy Services in the first quarter worth about $127,000. 43.66% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Richard Alan Burnett acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were acquired at an average cost of $14.14 per share, with a total value of $35,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Holli C. Ladhani acquired 29,388 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were bought at an average cost of $13.87 per share, for a total transaction of $407,611.56. The disclosure for this purchase can be found here. Company insiders own 8.29% of the company’s stock.

About Select Energy Services

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary hose; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.

Earnings History and Estimates for Select Energy Services (NYSE:WTTR)

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