Q1 2018 EPS Estimates for Flotek Industries, Inc. (FTK) Lowered by Seaport Global Securities

Flotek Industries, Inc. (NYSE:FTK) – Seaport Global Securities cut their Q1 2018 EPS estimates for Flotek Industries in a research report issued on Tuesday, April 24th. Seaport Global Securities analyst S. Randhawa now anticipates that the oil and gas company will earn ($0.08) per share for the quarter, down from their previous estimate of $0.05. Seaport Global Securities also issued estimates for Flotek Industries’ Q2 2018 earnings at ($0.05) EPS, Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at ($0.10) EPS, Q1 2019 earnings at $0.06 EPS, Q3 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.04 EPS and FY2019 earnings at $0.20 EPS.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas company reported $0.00 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.03. Flotek Industries had a negative net margin of 8.64% and a negative return on equity of 0.21%. The company had revenue of $72.50 million for the quarter, compared to analyst estimates of $72.85 million. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research note on Wednesday, February 21st. ValuEngine lowered shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st.

NYSE:FTK opened at $3.90 on Thursday. Flotek Industries has a 52 week low of $3.82 and a 52 week high of $12.52. The firm has a market capitalization of $227.02, a PE ratio of -55.71 and a beta of 1.45.

Several large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake 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 purchasing an additional 13,773 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Flotek Industries by 14.7% during the 4th quarter. Rhumbline Advisers now owns 134,176 shares of the oil and gas company’s stock valued at $625,000 after acquiring an additional 17,161 shares during the period. Wells Fargo & Company MN lifted its position in shares of Flotek Industries by 24.2% during the 3rd quarter. Wells Fargo & Company MN now owns 114,691 shares of the oil and gas company’s stock valued at $533,000 after acquiring an additional 22,327 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Flotek Industries during the 4th quarter valued at $133,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Flotek Industries during the 4th quarter valued at $225,000. 78.50% of the stock is currently owned by institutional investors.

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Flotek Industries Company Profile

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

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

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