Northland Capmk Has Pessimistic View of WTTR FY2024 Earnings

Select Water Solutions, Inc. (NYSE:WTTR) – Equities researchers at Northland Capmk cut their FY2024 earnings estimates for Select Water Solutions in a report released on Friday, November 8th. Northland Capmk analyst B. Brooks now expects that the company will earn $0.38 per share for the year, down from their previous forecast of $0.47. Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.40 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q4 2025 earnings at $0.26 EPS and FY2025 earnings at $0.95 EPS.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. Select Water Solutions’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share.

Separately, Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd.

Select Water Solutions Stock Performance

Select Water Solutions stock opened at $13.64 on Monday. Select Water Solutions has a 1-year low of $6.99 and a 1-year high of $14.48. The firm has a market cap of $1.62 billion, a P/E ratio of 23.12 and a beta of 1.67. The firm has a 50-day moving average of $11.23 and a 200-day moving average of $10.81. The company has a current ratio of 1.78, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09.

Institutional Investors Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the company. Foundry Partners LLC boosted its holdings in Select Water Solutions by 29.8% in the third quarter. Foundry Partners LLC now owns 622,755 shares of the company’s stock worth $6,931,000 after purchasing an additional 142,919 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Select Water Solutions during the 3rd quarter valued at $259,000. Empowered Funds LLC lifted its stake in shares of Select Water Solutions by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 574,381 shares of the company’s stock valued at $6,393,000 after buying an additional 29,212 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Select Water Solutions by 1.9% during the 3rd quarter. Royce & Associates LP now owns 1,682,413 shares of the company’s stock valued at $18,725,000 after buying an additional 31,192 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Select Water Solutions by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,818,016 shares of the company’s stock valued at $42,495,000 after acquiring an additional 47,511 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.05%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is 47.46%.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.