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

Flotek Industries (NYSE:FTK) released its earnings results on Monday. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01, Zacks reports. The company had revenue of $49.74 million for 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 in the previous year, the business posted $0.04 EPS.

Flotek Industries Stock Performance

NYSE FTK traded up $0.67 during trading on Tuesday, hitting $5.67. 103,643 shares of the company’s stock traded hands, compared to its average volume of 75,573. The stock has a market capitalization of $169.02 million, a price-to-earnings ratio of 24.41 and a beta of 1.04. Flotek Industries has a 12-month low of $2.64 and a 12-month high of $5.70. The business has a 50 day moving average of $4.75 and a 200-day moving average of $4.41.

Analysts Set New Price Targets

A number of research analysts have weighed in on FTK shares. Roth Capital upgraded shares of Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th. Roth Mkm started coverage on Flotek Industries in a research note on Thursday, July 25th. They issued a “buy” rating and a $6.50 price objective on the stock. One research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus 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).