Solaris Oilfield Infrastructure, Inc. (SOI) Releases Earnings Results, Misses Expectations By $0.02 EPS

Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) announced its earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02), Briefing.com reports. The firm had revenue of $18.50 million for the quarter, compared to the consensus estimate of $17.14 million. Solaris Oilfield Infrastructure’s revenue was down 99.6% on a year-over-year basis.

Solaris Oilfield Infrastructure (NYSE:SOI) traded down $0.11 during trading on Friday, hitting $15.96. The stock had a trading volume of 480,868 shares, compared to its average volume of 173,712. The company has a quick ratio of 13.20, a current ratio of 13.89 and a debt-to-equity ratio of 0.06.

A hedge fund recently bought a new stake in Solaris Oilfield Infrastructure stock. State Street Corp acquired a new stake in Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 115,411 shares of the company’s stock, valued at approximately $1,330,000. State Street Corp owned 1.07% of Solaris Oilfield Infrastructure at the end of the most recent reporting period. Institutional investors and hedge funds own 58.17% of the company’s stock.

A number of brokerages have recently issued reports on SOI. Raymond James Financial, Inc. assumed coverage on shares of Solaris Oilfield Infrastructure in a research report on Thursday, July 20th. They issued an “outperform” rating for the company. Imperial Capital assumed coverage on shares of Solaris Oilfield Infrastructure in a research report on Friday, August 18th. They set an “outperform” rating and a $17.00 price objective for the company. Seaport Global Securities reaffirmed a “buy” rating on shares of Solaris Oilfield Infrastructure in a research report on Thursday, July 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $15.50 price objective on shares of Solaris Oilfield Infrastructure in a research report on Thursday, August 3rd. Finally, Citigroup Inc cut shares of Solaris Oilfield Infrastructure to a “market perform” rating in a research report on Wednesday, October 11th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Solaris Oilfield Infrastructure currently has an average rating of “Buy” and an average target price of $17.36.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.com-unik.info/2017/11/04/solaris-oilfield-infrastructure-inc-soi-releases-earnings-results-misses-expectations-by-0-02-eps.html.

About Solaris Oilfield Infrastructure

Solaris Oilfield Infrastructure, Inc manufactures and provides its mobile proppant management systems that unload, store and deliver proppant at oil and natural gas well sites. The Company offers its services to oil and natural gas exploration and production (E&P) companies, as well as oilfield service companies.

What are top analysts saying about Solaris Oilfield Infrastructure Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Solaris Oilfield Infrastructure Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit