FTK FY2027 EPS Forecast Decreased by Northland Securities

Flotek Industries, Inc. (NYSE:FTK) – Research analysts at Northland Securities dropped their FY2027 EPS estimates for Flotek Industries in a research report issued on Thursday, August 20th. Northland Securities analyst J. Grampp now forecasts that the oil and gas company will post earnings per share of $1.21 for the year, down from their prior forecast of $1.52. The consensus estimate for Flotek Industries’ current full-year earnings is $0.70 per share.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. Flotek Industries had a net margin of 12.97% and a return on equity of 21.57%. The business had revenue of $99.37 million for the quarter, compared to analyst estimates of $69.51 million.

A number of other equities analysts also recently commented on the stock. Weiss Ratings upgraded shares of Flotek Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. JonesTrading assumed coverage on Flotek Industries in a research report on Thursday, July 9th. They issued a “buy” rating and a $40.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Flotek Industries Stock Up 0.3%

Shares of FTK stock opened at $24.00 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.31. Flotek Industries has a 1 year low of $10.95 and a 1 year high of $39.67. The firm’s fifty day moving average price is $26.38 and its two-hundred day moving average price is $20.97. The firm has a market capitalization of $869.24 million, a P/E ratio of 24.24 and a beta of 1.43.

Institutional Investors Weigh In On Flotek Industries

Several hedge funds have recently added to or reduced their stakes in FTK. Quarry LP raised its position in shares of Flotek Industries by 97.2% in the third quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,900 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Flotek Industries during the 2nd quarter worth about $102,000. California State Teachers Retirement System boosted its holdings in shares of Flotek Industries by 510.1% during the 2nd quarter. California State Teachers Retirement System now owns 4,704 shares of the oil and gas company’s stock worth $111,000 after buying an additional 3,933 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flotek Industries during the 2nd quarter worth about $115,000. Finally, Deutsche Bank AG acquired a new position in Flotek Industries in the 4th quarter valued at about $150,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc (NYSE: FTK) is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek’s solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.

Flotek’s operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.