Tetra Tech, Inc. (NASDAQ:TTEK) – Boenning Scattergood decreased their Q1 2018 earnings estimates for shares of Tetra Tech in a research report issued to clients and investors on Thursday. Boenning Scattergood analyst R. Connors now expects that the industrial products company will earn $0.51 per share for the quarter, down from their prior forecast of $0.53. Boenning Scattergood has a “Buy” rating and a $54.00 price objective on the stock. Boenning Scattergood also issued estimates for Tetra Tech’s Q2 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $2.30 EPS.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $517.90 million. Tetra Tech had a net margin of 4.28% and a return on equity of 13.42%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the company posted $0.59 earnings per share. ILLEGAL ACTIVITY WARNING: This news story was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/12/equities-analysts-offer-predictions-for-tetra-tech-inc-s-q1-2018-earnings-ttek.html.
Several other equities analysts have also weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research report on Thursday, September 7th. Robert W. Baird reaffirmed a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research report on Tuesday, September 5th. BidaskClub lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Roth Capital set a $52.00 price objective on shares of Tetra Tech and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Tetra Tech from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Tetra Tech presently has an average rating of “Hold” and an average target price of $52.29.
Shares of Tetra Tech (NASDAQ TTEK) opened at $48.50 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The company has a market cap of $2,742.72, a P/E ratio of 22.77, a P/E/G ratio of 1.56 and a beta of 1.08. Tetra Tech has a fifty-two week low of $38.45 and a fifty-two week high of $50.15.
Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Tetra Tech by 76.4% in the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock valued at $14,825,000 after purchasing an additional 137,887 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Tetra Tech by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 113,467 shares of the industrial products company’s stock valued at $5,279,000 after purchasing an additional 1,376 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Tetra Tech by 18.4% in the 3rd quarter. Nordea Investment Management AB now owns 49,099 shares of the industrial products company’s stock valued at $2,286,000 after purchasing an additional 7,641 shares in the last quarter. ETRADE Capital Management LLC boosted its stake in shares of Tetra Tech by 60.5% in the 3rd quarter. ETRADE Capital Management LLC now owns 26,689 shares of the industrial products company’s stock valued at $1,242,000 after purchasing an additional 10,063 shares in the last quarter. Finally, Robecosam AG boosted its stake in shares of Tetra Tech by 11.5% in the 3rd quarter. Robecosam AG now owns 238,449 shares of the industrial products company’s stock valued at $11,016,000 after purchasing an additional 24,513 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.
In other news, insider Ronald J. Chu sold 14,112 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $705,600.00. Following the sale, the insider now owns 51,216 shares in the company, valued at approximately $2,560,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ronald J. Chu sold 696 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $50.00, for a total transaction of $34,800.00. Following the completion of the sale, the insider now owns 37,800 shares in the company, valued at approximately $1,890,000. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. Tetra Tech’s dividend payout ratio is currently 19.61%.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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