Wall Street’s Forecast for Flotek Industries before Its 3Q17 Earnings
On October 16, 2017, all analysts tracking Flotek Industries rated it as a “buy” or some equivalent.
Flotek Industries’ correlation coefficient with the Dow Jones Industrial Average since October 12, 2016, is 0.12.
Short interest in Flotek Industries (FTK) as a percentage of its float was 20.3% on October 16, 2017, compared to 22.8% on June 30, 2017.
On October 16, 2017, Flotek Industries’ (FTK) implied volatility was ~66%.
The US rig count increased 14% in 2Q17 over 1Q17. Since June 30, 2017, the US rig count has decreased 1% until the week ended October 13, 2017.
Revenues in Flotek Industries’ (FTK) Consumer and Industrial Chemistry Technologies (or CICT) segment increased only 0.5% in 2Q17 over 1Q17.
According to FTK’s management, 2Q17 marked a record quarter of CnF sales by volume for the company.
In 3Q17, analysts expect Flotek Industries (FTK) to report adjusted earnings per share of $0.02. Wall Street expects FTK’s revenues to rise 1% over 2Q17 to $86.2 million.
Crude oil’s price correlation coefficient with Halliburton’s stock price on October 6–13, 2017, was 0.33. There was a weak correlation in the past week.
Halliburton stock will likely close between $46.21 and $43.23 in the next seven days—based on its implied volatility.
Halliburton’s (HAL) one-week stock price didn’t change in the week ending October 13, 2017. Since October 6, 2017, XLE also remained unchanged.
On October 12, 2017, ~67% of the Wall Street analysts tracking Nabors Industries rated it a “buy” or some equivalent.
The correlation coefficient between Nabors Industries’ (NBR) stock price and crude oil prices from October 12, 2016, to October 12, 2017, was 0.63.
Short interest in Nabors Industries (NBR) as a percentage of its float was 10.4% on October 12, 2017, compared to 12.2% on June 30, 2017.
On October 12, 2017, Nabors Industries’ (NBR) implied volatility was ~55%.
From 1Q17 to 2Q17, Nabors Industries’ (NBR) EBITDA margin (or EBITDA as a percentage of revenues) increased from 18.0% to 21.6%.
Nabors Industries’ (NBR) US operations witnessed a 15.7% revenue rise in 2Q17 over 1Q17.
Nabors Industries’ (NBR) management expects the rig addition in the US onshore sector to moderate in the second half of 2017.
In 3Q17, analysts expect an adjusted loss of $0.33 per share for Nabors Industries (NBR). NBR plans to release its 3Q17 financial results on October 24, 2017.
Schlumberger’s (SLB) correlation coefficient with crude oil from October 6, 2017, to October 13, 2017, was 0.31.