Flotek Industries (NYSE:FTK) Issues Quarterly Earnings Results

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

Flotek Industries Stock Up 6.8 %

Flotek Industries stock traded up $0.42 during midday trading on Wednesday, hitting $6.57. 315,592 shares of the stock were exchanged, compared to its average volume of 78,237. Flotek Industries has a 52-week low of $2.64 and a 52-week high of $6.71. The stock has a market capitalization of $195.85 million, a price-to-earnings ratio of 27.73 and a beta of 1.04. The business’s 50-day moving average price is $4.79 and its 200-day moving average price is $4.43.

Analyst Ratings Changes

FTK has been the subject of several recent analyst reports. Roth Capital upgraded shares of Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th. Roth Mkm began coverage on shares of Flotek Industries in a report on Thursday, July 25th. They set a “buy” rating and a $6.50 price objective for the company. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.75.

About Flotek Industries

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).