Wall Street analysts expect Tetra Tech, Inc. (NASDAQ:TTEK) to post earnings of $0.51 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Tetra Tech’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.50. Tetra Tech posted earnings per share of $0.48 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, May 2nd.
On average, analysts expect that Tetra Tech will report full year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.50 to $2.51. For the next fiscal year, analysts anticipate that the business will report earnings of $2.79 per share, with EPS estimates ranging from $2.73 to $2.85. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Tetra Tech.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The business had revenue of $544.85 million for the quarter, compared to analysts’ expectations of $510.22 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis.
TTEK has been the topic of several research analyst reports. Boenning Scattergood reissued a “buy” rating and issued a $65.00 price objective on shares of Tetra Tech in a research report on Thursday, March 15th. ValuEngine raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, February 2nd. Canaccord Genuity reissued a “buy” rating and issued a $60.00 price objective on shares of Tetra Tech in a research report on Thursday, February 1st. Finally, Stifel Nicolaus boosted their price objective on Tetra Tech from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, April 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $57.00.
In other news, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $50.36, for a total transaction of $640,226.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard A. Lemmon sold 15,089 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $51.09, for a total value of $770,897.01. Following the transaction, the senior vice president now directly owns 51,785 shares in the company, valued at approximately $2,645,695.65. The disclosure for this sale can be found here. Insiders have sold a total of 164,331 shares of company stock worth $8,343,340 in the last ninety days. Insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TTEK. American International Group Inc. lifted its position in shares of Tetra Tech by 5.6% during the 3rd quarter. American International Group Inc. now owns 45,220 shares of the industrial products company’s stock valued at $2,105,000 after buying an additional 2,390 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Tetra Tech by 1.2% during 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 during the period. Wells Fargo & Company MN raised its stake in shares of Tetra Tech by 76.4% during 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 during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Tetra Tech by 7.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 397,830 shares of the industrial products company’s stock valued at $18,519,000 after purchasing an additional 27,198 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Tetra Tech by 35.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after purchasing an additional 152,695 shares during the period. 87.28% of the stock is currently owned by hedge funds and other institutional investors.
TTEK stock remained flat at $$51.00 during midday trading on Monday. The company’s stock had a trading volume of 237,418 shares, compared to its average volume of 234,352. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.25 and a current ratio of 2.25. Tetra Tech has a twelve month low of $39.95 and a twelve month high of $53.40. The stock has a market capitalization of $2,848.39, a PE ratio of 23.94, a P/E/G ratio of 1.52 and a beta of 0.97.
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About Tetra Tech
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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