Wall Street brokerages predict that TETRA Technologies, Inc. (NYSE:TTI) will announce earnings of ($0.03) per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for TETRA Technologies’ earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.02). TETRA Technologies posted earnings per share of ($0.06) during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is scheduled to announce its next earnings report on Tuesday, May 14th.
On average, analysts expect that TETRA Technologies will report full-year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.10) to $0.08. For the next fiscal year, analysts forecast that the business will post earnings of $0.13 per share, with EPS estimates ranging from $0.00 to $0.31. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow TETRA Technologies.
TETRA Technologies (NYSE:TTI) last released its earnings results on Thursday, February 28th. The oil and gas company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. TETRA Technologies had a negative net margin of 6.44% and a negative return on equity of 2.20%. The firm had revenue of $282.47 million for the quarter, compared to analyst estimates of $262.53 million.
A number of research firms recently weighed in on TTI. Johnson Rice lowered shares of TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. ValuEngine upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.10.
Shares of TTI stock traded down $0.10 during trading hours on Wednesday, reaching $2.42. 8,639 shares of the stock were exchanged, compared to its average volume of 670,808. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.28 and a current ratio of 2.00. TETRA Technologies has a 12-month low of $1.29 and a 12-month high of $5.11. The firm has a market capitalization of $315.33 million, a price-to-earnings ratio of -48.80 and a beta of 1.59.
Institutional investors have recently made changes to their positions in the business. Amalgamated Bank purchased a new position in TETRA Technologies in the fourth quarter valued at approximately $32,000. Wealthsource Partners LLC purchased a new position in TETRA Technologies in the fourth quarter valued at approximately $34,000. SG Americas Securities LLC increased its stake in TETRA Technologies by 206.7% in the fourth quarter. SG Americas Securities LLC now owns 34,222 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 23,065 shares during the last quarter. Magnus Financial Group LLC purchased a new position in TETRA Technologies in the fourth quarter valued at approximately $59,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in TETRA Technologies in the fourth quarter valued at approximately $59,000. Institutional investors own 83.21% of the company’s stock.
About TETRA Technologies
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.
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