Flotek Industries (NYSE:FTK) Posts Earnings Results, Beats Estimates By $0.01 EPS

Flotek Industries (NYSE:FTK) released its quarterly earnings results on Monday. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01, Zacks reports. The business had revenue of $49.74 million during the quarter, compared to analysts’ expectations of $50.40 million. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. During the same period last year, the firm posted $0.04 EPS.

Flotek Industries Stock Performance

Shares of FTK opened at $6.26 on Wednesday. The business’s fifty day moving average is $4.79 and its 200-day moving average is $4.43. The firm has a market cap of $186.61 million, a price-to-earnings ratio of 27.73 and a beta of 1.04. Flotek Industries has a 52-week low of $2.64 and a 52-week high of $6.36.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FTK shares. Roth Capital raised Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. Roth Mkm initiated coverage on shares of Flotek Industries in a research note on Thursday, July 25th. They issued a “buy” rating and a $6.50 price objective for the company. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $6.75.

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).