Select Water Solutions, Inc. (NYSE:WTTR – Get Free Report) has recently announced its quarterly dividend for investors. The company will be paying a dividend of $0.07 per share on February 14th, with an ex-dividend date of February 4th. This represents an annualized dividend of $0.28 and a dividend yield of 2.01%.
With a payout ratio of 26.9%, Select Water Solutions’ dividend is well-covered by its earnings. Analysts predict that the company will earn $0.91 per share next year, which will result in a payout ratio of 30.8%. This shows that the company is in a strong position to continue paying dividends to its shareholders in the future.
Shares of Select Water Solutions were up 0.6% on Friday, opening at $13.91. The company’s 50-day simple moving average is $13.86 and its 200-day simple moving average is $12.18. With a market cap of $1.66 billion, a PE ratio of 23.58, and a beta of 1.76, Select Water Solutions has shown strong performance in the market.
In its last quarterly earnings report released on November 5th, Select Water Solutions exceeded analysts’ expectations by reporting earnings of $0.15 per share compared to the estimated $0.14 per share. The company also had a return on equity of 6.65% and a net margin of 4.05%. Its revenue for the quarter was $371.35 million, surpassing the consensus estimate of $352.98 million.
Recently, Citigroup increased their target price for Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating. This reflects the positive outlook for the company’s future performance.
Select Water Solutions, Inc. provides water management and chemical solutions to the energy industry in the United States. Its services include water sourcing, transfer, monitoring, and automation, as well as technology solutions for remote monitoring and equipment services. With its strong financial position and positive outlook, Select Water Solutions is a promising investment opportunity for shareholders.
To read more about Select Water Solutions, check out our latest research report on WTTR. Stay updated with the latest news and ratings for the company by signing up for our daily email newsletter.