Flotek Industries, Inc. (NYSE:FTK) – Analysts at Seaport Global Securities cut their FY2017 earnings per share (EPS) estimates for Flotek Industries in a research note issued on Thursday. Seaport Global Securities analyst S. Randhawa now forecasts that the oil and gas company will earn ($0.12) per share for the year, down from their previous forecast of $0.10. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Flotek Industries’ Q4 2017 earnings at ($0.05) EPS, Q2 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.04 EPS, FY2018 earnings at $0.23 EPS, Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at $0.09 EPS and FY2019 earnings at $0.37 EPS.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The company had revenue of $79.46 million during the quarter, compared to analyst estimates of $85.10 million. Flotek Industries had a negative net margin of 10.41% and a negative return on equity of 1.64%. Flotek Industries’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share.

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Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Flotek Industries from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th. BidaskClub cut Flotek Industries from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th.

Flotek Industries (FTK) opened at $4.61 on Monday. Flotek Industries has a fifty-two week low of $4.14 and a fifty-two week high of $14.51.

Several institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP bought a new position in shares of Flotek Industries in the 3rd quarter valued at $133,000. Stifel Financial Corp increased its stake in shares of Flotek Industries by 5.9% in the 3rd quarter. Stifel Financial Corp now owns 667,402 shares of the oil and gas company’s stock valued at $3,054,000 after purchasing an additional 37,038 shares during the last quarter. KBC Group NV bought a new position in shares of Flotek Industries in the 3rd quarter valued at $294,000. Dimensional Fund Advisors LP increased its stake in shares of Flotek Industries by 21.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,358,417 shares of the oil and gas company’s stock valued at $6,317,000 after purchasing an additional 243,001 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Flotek Industries by 5.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 249,573 shares of the oil and gas company’s stock valued at $1,161,000 after purchasing an additional 13,773 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

Earnings History and Estimates for Flotek Industries (NYSE:FTK)

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