Research Analysts Issue Forecasts for FTK FY2024 Earnings

Flotek Industries, Inc. (NYSE:FTK) – Research analysts at Roth Capital raised their FY2024 earnings per share estimates for Flotek Industries in a note issued to investors on Thursday, November 7th. Roth Capital analyst G. Sweeney now forecasts that the oil and gas company will post earnings per share of $0.29 for the year, up from their prior estimate of $0.27. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Flotek Industries’ current full-year earnings is $0.27 per share. Roth Capital also issued estimates for Flotek Industries’ Q4 2024 earnings at $0.10 EPS.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Monday, November 4th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company 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 7.86% and a net margin of 4.58%. During the same period last year, the firm posted $0.04 earnings per share.

Separately, Roth Mkm lifted their target price on Flotek Industries from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $7.50.

Flotek Industries Price Performance

Flotek Industries stock opened at $6.57 on Friday. The stock’s fifty day moving average price is $4.89 and its two-hundred day moving average price is $4.46. Flotek Industries has a one year low of $2.64 and a one year high of $6.94. The firm has a market cap of $195.70 million, a PE ratio of 25.25 and a beta of 1.04.

Hedge Funds Weigh In On Flotek Industries

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Flotek Industries by 7.9% during the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 39,695 shares during the period. Masters Capital Management LLC boosted its position in Flotek Industries by 3.8% in the first quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after purchasing an additional 18,524 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in Flotek Industries in the third quarter worth about $137,000. 10.90% of the stock is owned by institutional investors.

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).