Wall Street brokerages predict that Tetra Tech, Inc. (NASDAQ:TTEK) will post $559.56 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Tetra Tech’s earnings. The lowest sales estimate is $555.74 million and the highest is $564.70 million. Tetra Tech posted sales of $544.85 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 30th.
According to Zacks, analysts expect that Tetra Tech will report full-year sales of $2.30 billion for the current year, with estimates ranging from $2.28 billion to $2.33 billion. For the next year, analysts forecast that the company will post sales of $2.40 billion, with estimates ranging from $2.34 billion to $2.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Tetra Tech.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The firm had revenue of $563.67 million during the quarter, compared to analysts’ expectations of $571.33 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis.
Several research firms have recently issued reports on TTEK. BidaskClub lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, November 17th. Maxim Group set a $87.00 price objective on shares of Tetra Tech and gave the stock a “buy” rating in a research report on Monday, November 19th. Boenning Scattergood reissued a “buy” rating and set a $80.00 price objective on shares of Tetra Tech in a research report on Thursday. Zacks Investment Research reissued a “hold” rating on shares of Tetra Tech in a research report on Saturday, November 17th. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $63.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Tetra Tech has an average rating of “Hold” and a consensus target price of $72.86.
Shares of NASDAQ:TTEK traded down $0.99 during midday trading on Tuesday, hitting $54.60. The company had a trading volume of 251,604 shares, compared to its average volume of 329,247. Tetra Tech has a 12 month low of $44.65 and a 12 month high of $72.56. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.06 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.38 and a beta of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.12 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 0.88%. Tetra Tech’s payout ratio is currently 18.18%.
In other Tetra Tech news, SVP Craig L. Christensen sold 6,750 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $65.98, for a total value of $445,365.00. Following the transaction, the senior vice president now owns 34,400 shares of the company’s stock, valued at $2,269,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kirsten M. Volpi sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total transaction of $80,328.00. Following the completion of the transaction, the director now directly owns 8,801 shares in the company, valued at approximately $589,138.94. The disclosure for this sale can be found here. Insiders sold 61,034 shares of company stock worth $3,958,744 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. American International Group Inc. raised its stake in shares of Tetra Tech by 1.8% in the 3rd quarter. American International Group Inc. now owns 43,524 shares of the industrial products company’s stock valued at $2,973,000 after purchasing an additional 789 shares during the period. Strs Ohio raised its stake in shares of Tetra Tech by 23.7% in the second quarter. Strs Ohio now owns 4,700 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 900 shares during the period. Smithfield Trust Co. raised its stake in shares of Tetra Tech by 70.1% in the third quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 940 shares during the period. Victory Capital Management Inc. raised its stake in shares of Tetra Tech by 15.9% in the second quarter. Victory Capital Management Inc. now owns 7,070 shares of the industrial products company’s stock valued at $414,000 after acquiring an additional 971 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Tetra Tech by 14.4% in the 3rd quarter. Fisher Asset Management LLC now owns 8,365 shares of the industrial products company’s stock worth $571,000 after buying an additional 1,050 shares during the period. Institutional investors own 84.55% of the company’s stock.
Tetra Tech Company Profile
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.
See Also: Risk Tolerance
Get a free copy of the Zacks research report on Tetra Tech (TTEK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.