Roth Capital Boosts Earnings Estimates for Flotek Industries

Flotek Industries, Inc. (NYSE:FTK) – Research analysts at Roth Capital raised their FY2024 EPS estimates for shares of Flotek Industries in a research report issued to clients and investors on Thursday, November 7th. Roth Capital analyst G. Sweeney now expects that the oil and gas company will earn $0.29 per share for the year, up from their previous estimate of $0.27. Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for Flotek Industries’ current full-year earnings is $0.27 per share. Roth Capital also issued estimates for Flotek Industries’ Q4 2024 earnings at $0.10 EPS.

Separately, Roth Mkm boosted their target price on shares of Flotek Industries from $6.50 to $8.00 and gave the company a “buy” rating in a research note on Thursday.

Flotek Industries Stock Up 6.3 %

FTK opened at $6.97 on Friday. The business has a fifty day moving average of $4.94 and a 200 day moving average of $4.48. Flotek Industries has a 52-week low of $2.64 and a 52-week high of $7.24. The stock has a market cap of $207.78 million, a P/E ratio of 26.81 and a beta of 1.04.

Flotek Industries (NYSE:FTK) last released its earnings results on Monday, November 4th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Flotek Industries had a return on equity of 7.86% and a net margin of 4.58%. The firm had revenue of $49.74 million for the quarter, compared to analysts’ expectations of $50.40 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share.

Institutional Investors Weigh In On Flotek Industries

A number of institutional investors and hedge funds have recently bought and sold shares of FTK. Vanguard Group Inc. increased its position in Flotek Industries by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 39,695 shares during the period. Masters Capital Management LLC lifted its position in shares of Flotek Industries by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after purchasing an additional 18,524 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the third quarter valued at approximately $137,000. 10.90% of the stock is owned by institutional investors.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).