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

Flotek Industries (NYSE:FTK) posted its quarterly 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. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. The firm had revenue of $49.74 million during the quarter, compared to analyst estimates of $50.40 million. During the same period last year, the company earned $0.04 earnings per share.

Flotek Industries Stock Performance

Flotek Industries stock traded up $0.67 during midday trading on Tuesday, hitting $5.67. 103,643 shares of the company’s stock were exchanged, compared to its average volume of 75,573. The company has a market cap of $169.02 million, a P/E ratio of 24.41 and a beta of 1.04. The stock has a 50-day moving average price of $4.75 and a two-hundred day moving average price of $4.41. Flotek Industries has a 52-week low of $2.64 and a 52-week high of $5.70.

Wall Street Analyst Weigh In

Several brokerages have commented on FTK. Roth Mkm started coverage on Flotek Industries in a research note on Thursday, July 25th. They issued a “buy” rating and a $6.50 target price for the company. Roth Capital upgraded shares of Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock 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).