$56.65 Million in Sales Expected for Solaris Oilfield Infrastructure Inc (SOI) This Quarter
Analysts expect Solaris Oilfield Infrastructure Inc (NYSE:SOI) to announce $56.65 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Solaris Oilfield Infrastructure’s earnings. The lowest sales estimate is $54.60 million and the highest is $57.70 million. Solaris Oilfield Infrastructure posted sales of $18.48 million in the same quarter last year, which suggests a positive year over year growth rate of 206.5%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Solaris Oilfield Infrastructure will report full year sales of $204.35 million for the current year, with estimates ranging from $201.90 million to $208.56 million. For the next year, analysts expect that the firm will report sales of $296.78 million per share, with estimates ranging from $282.67 million to $323.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Solaris Oilfield Infrastructure.
Solaris Oilfield Infrastructure (NYSE:SOI) last posted its earnings results on Thursday, August 2nd. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. Solaris Oilfield Infrastructure had a return on equity of 18.91% and a net margin of 15.78%. The company had revenue of $47.20 million for the quarter, compared to the consensus estimate of $44.85 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was up 252.2% on a year-over-year basis.
In other news, CFO Kyle S. Ramachandran acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was acquired at an average cost of $16.17 per share, with a total value of $80,850.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William A. Zartler acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was purchased at an average cost of $16.17 per share, with a total value of $97,020.00. The disclosure for this purchase can be found here. Insiders own 14.44% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Group One Trading L.P. acquired a new position in Solaris Oilfield Infrastructure during the 1st quarter worth $138,000. Metropolitan Life Insurance Co. NY acquired a new position in Solaris Oilfield Infrastructure during the 4th quarter worth $143,000. Advisors Asset Management Inc. grew its stake in Solaris Oilfield Infrastructure by 13,615.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 263,618 shares of the company’s stock worth $151,000 after purchasing an additional 261,696 shares in the last quarter. Voya Investment Management LLC acquired a new position in Solaris Oilfield Infrastructure during the 2nd quarter worth $153,000. Finally, Violich Capital Management Inc. acquired a new position in Solaris Oilfield Infrastructure during the 1st quarter worth $176,000. 71.96% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SOI traded up $0.05 during trading on Friday, reaching $16.63. The stock had a trading volume of 13,930 shares, compared to its average volume of 553,642. Solaris Oilfield Infrastructure has a fifty-two week low of $12.17 and a fifty-two week high of $23.98. The company has a current ratio of 2.26, a quick ratio of 1.94 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $826.47 million, a PE ratio of 34.33 and a beta of 0.15.
About Solaris Oilfield Infrastructure
Solaris Oilfield Infrastructure, Inc manufactures and sells patented mobile proppant management systems to unload, store, and deliver proppant at oil and natural gas well sites in the United States. The company's systems are designed for transferring large quantities of proppant to the well sites.
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