Seaport Global Securities Weighs in on Flotek Industries Inc’s FY2017 Earnings (FTK)

Flotek Industries Inc (NYSE:FTK) – Stock analysts at Seaport Global Securities lifted their FY2017 earnings estimates for Flotek Industries in a report issued on Wednesday. Seaport Global Securities analyst S. Randhawa now anticipates that the oil and gas company will earn ($0.10) per share for the year, up from their prior forecast of ($0.12). Seaport Global Securities also issued estimates for Flotek Industries’ Q4 2017 earnings at ($0.02) EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.05 EPS, FY2018 earnings at $0.31 EPS, Q1 2019 earnings at $0.11 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.07 EPS and FY2019 earnings at $0.47 EPS.

Flotek Industries (NYSE:FTK) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The business had revenue of $79.46 million for the quarter, compared to the consensus estimate of $85.10 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis.

Separately, Zacks Investment Research upgraded shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th.

Flotek Industries (NYSE:FTK) opened at $5.61 on Friday. Flotek Industries has a 1-year low of $4.14 and a 1-year high of $14.51. The stock has a market cap of $344.36, a PE ratio of -10.02 and a beta of 1.70.

Several large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in shares of Flotek Industries in the 3rd quarter valued at about $133,000. Stifel Financial Corp boosted its holdings in shares of Flotek Industries by 5.9% in the 3rd quarter. Stifel Financial Corp now owns 667,402 shares of the oil and gas company’s stock valued at $3,054,000 after buying an additional 37,038 shares in the last quarter. KBC Group NV bought a new stake in shares of Flotek Industries in the 3rd quarter valued at about $294,000. Dimensional Fund Advisors LP boosted its holdings in shares of Flotek Industries by 21.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,358,417 shares of the oil and gas company’s stock valued at $6,317,000 after buying an additional 243,001 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Flotek Industries by 5.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 249,573 shares of the oil and gas company’s stock valued at $1,161,000 after buying an additional 13,773 shares in the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.

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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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