Tetra Tech, Inc. (NASDAQ:TTEK)’s share price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $72.25 and last traded at $72.00, with a volume of 18822 shares traded. The stock had previously closed at $68.81.
The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Tetra Tech had a return on equity of 15.31% and a net margin of 4.82%. The firm had revenue of $563.67 million during the quarter, compared to analysts’ expectations of $571.33 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, November 29th. Tetra Tech’s payout ratio is currently 18.18%.
A number of equities analysts have recently issued reports on the company. BidaskClub upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird increased their target price on Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a report on Thursday. Maxim Group set a $87.00 target price on Tetra Tech and gave the company a “buy” rating in a report on Thursday. Roth Capital increased their target price on Tetra Tech from $59.00 to $73.00 and gave the company a “buy” rating in a report on Monday, August 6th. Finally, Zacks Investment Research upgraded Tetra Tech from a “sell” rating to a “buy” rating and set a $74.00 target price for the company in a report on Monday, August 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Tetra Tech has a consensus rating of “Buy” and an average target price of $70.71.
A number of hedge funds have recently modified their holdings of TTEK. LPL Financial LLC purchased a new position in shares of Tetra Tech in the first quarter valued at $494,000. Fisher Asset Management LLC boosted its stake in shares of Tetra Tech by 23.7% in the second quarter. Fisher Asset Management LLC now owns 7,315 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 1,400 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Tetra Tech in the second quarter valued at $952,000. Amalgamated Bank boosted its stake in shares of Tetra Tech by 11.8% in the second quarter. Amalgamated Bank now owns 8,992 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 951 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Tetra Tech by 80.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 84.85% of the company’s stock.
The company has a market cap of $3.72 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.01.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/11/10/tetra-tech-ttek-sets-new-1-year-high-after-strong-earnings.html.
Tetra Tech Company Profile (NASDAQ:TTEK)
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.
Featured Story: What Does Beta Mean In Stock Selection
Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.