Tetra Tech (NASDAQ:TTEK) Releases FY 2022 Earnings Guidance

Tetra Tech (NASDAQ:TTEK) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.000-$4.200 for the period, compared to the Thomson Reuters consensus estimate of $4.110. The company issued revenue guidance of $2.60 billion-$2.80 billion, compared to the consensus revenue estimate of $2.68 billion.Tetra Tech also updated its Q1 2022 guidance to $0.980-$1.030 EPS.

Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price objective on Tetra Tech from $145.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, November 18th. Zacks Investment Research upgraded Tetra Tech from a hold rating to a buy rating and set a $189.00 price objective on the stock in a research note on Monday, November 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Tetra Tech currently has a consensus rating of Buy and a consensus target price of $165.80.

NASDAQ TTEK traded down $0.38 during trading hours on Thursday, hitting $190.00. The company had a trading volume of 122,009 shares, compared to its average volume of 269,508. Tetra Tech has a fifty-two week low of $113.14 and a fifty-two week high of $192.91. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $165.87 and a 200-day simple moving average of $142.07. The firm has a market cap of $10.27 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 2.98 and a beta of 0.86.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, November 17th. The industrial products company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Tetra Tech had a return on equity of 17.81% and a net margin of 6.33%. The firm had revenue of $709.13 million for the quarter, compared to analyst estimates of $674.37 million. During the same period last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts forecast that Tetra Tech will post 3.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 20th. Stockholders of record on Thursday, December 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Wednesday, December 1st. Tetra Tech’s dividend payout ratio (DPR) is 22.47%.

Tetra Tech declared that its Board of Directors has approved a share repurchase plan on Thursday, October 7th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, Director Patrick C. Haden sold 410 shares of Tetra Tech stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $186.03, for a total transaction of $76,272.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J Christopher Lewis sold 850 shares of Tetra Tech stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $143.11, for a total value of $121,643.50. Following the transaction, the director now directly owns 68,626 shares in the company, valued at $9,821,066.86. The disclosure for this sale can be found here. Insiders have sold 20,962 shares of company stock worth $3,363,282 over the last three months. Corporate insiders own 1.65% of the company’s stock.

An institutional investor recently raised its position in Tetra Tech stock. Morgan Stanley lifted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 18.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 253,014 shares of the industrial products company’s stock after purchasing an additional 38,853 shares during the quarter. Morgan Stanley owned 0.47% of Tetra Tech worth $30,878,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Tetra Tech Company Profile

Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.

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Earnings History and Estimates for Tetra Tech (NASDAQ:TTEK)

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