Research Analysts Offer Predictions for Flotek Industries, Inc.’s Q2 2017 Earnings (FTK)

Flotek Industries, Inc. (NYSE:FTK) – Investment analysts at Seaport Global Securities issued their Q2 2017 earnings per share (EPS) estimates for shares of Flotek Industries in a research note issued on Thursday. Seaport Global Securities analyst S. Randhawa forecasts that the oil and gas company will earn $0.04 per share for the quarter. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Flotek Industries’ Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.31 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $0.87 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.26 EPS and FY2019 earnings at $1.18 EPS.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Flotek Industries had a negative return on equity of 3.38% and a negative net margin of 10.43%. The company had revenue of $80 million for the quarter, compared to analyst estimates of $78.85 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis.

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Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, May 8th. ValuEngine cut Flotek Industries from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.

Flotek Industries (NYSE FTK) opened at 8.38 on Monday. Flotek Industries has a 52 week low of $7.68 and a 52 week high of $16.93. The stock’s market cap is $479.79 million. The firm’s 50-day moving average price is $8.93 and its 200-day moving average price is $10.76.

A number of hedge funds have recently made changes to their positions in FTK. Norges Bank bought a new stake in shares of Flotek Industries during the fourth quarter valued at about $626,000. Pioneer Investment Management Inc. boosted its stake in shares of Flotek Industries by 48.1% in the first quarter. Pioneer Investment Management Inc. now owns 586,547 shares of the oil and gas company’s stock valued at $7,502,000 after buying an additional 190,610 shares during the period. Stephens Inc. AR boosted its stake in shares of Flotek Industries by 2.4% in the first quarter. Stephens Inc. AR now owns 409,711 shares of the oil and gas company’s stock valued at $5,240,000 after buying an additional 9,435 shares during the period. Teton Advisors Inc. boosted its stake in shares of Flotek Industries by 22.2% in the first quarter. Teton Advisors Inc. now owns 30,904 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 5,604 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of Flotek Industries during the fourth quarter valued at about $1,210,000. 99.51% of the stock is currently owned by institutional investors and hedge funds.

About Flotek Industries

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

Earnings History and Estimates for Flotek Industries (NYSE:FTK)

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