Shares of Flotek Industries Tank on Earnings Loss
Shares of Flotek Industries (NYSE: FTK) are down 16.3% as of 11:15 a.m. EST today. Much today's decline has to do with Flotek's earnings that fell into the loss column for the quarter.
Flotek reported a net loss of $0.06 per share compared to a $0.03 per share loss this time last year. Revenue for the quarter came in at $79.5 million, which was a 23% increase from last year but a slight declined compared to the second quarter. Just for reference, Wall Street analyst estimates had Flotek producing a $0.02 per share gain in the quarter.
Image source: Getty Images.
Source: Fool.com
Flotek Industries Stock
€0.67
-2.960%
The community is currently still undecided about Flotek Industries with 1 Buy predictions and 0 Sell predictions.
With a target price of 6 € there is potential for a 802.26% increase which would mean more than doubling the current price of 0.67 € for Flotek Industries.
