Equities analysts predict that Tetra Tech, Inc. (NASDAQ:TTEK) will report sales of $530.21 million for the current quarter, according to Zacks. Two analysts have provided estimates for Tetra Tech’s earnings. The highest sales estimate is $533.10 million and the lowest is $527.31 million. Tetra Tech reported sales of $511.95 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The firm is scheduled to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Tetra Tech will report full year sales of $530.21 million for the current year, with estimates ranging from $2.13 billion to $2.20 billion. For the next financial year, analysts expect that the business will report sales of $2.23 billion per share, with estimates ranging from $2.19 billion to $2.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Tetra Tech.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $544.85 million during the quarter, compared to analysts’ expectations of $510.22 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis.
A number of brokerages have weighed in on TTEK. Zacks Investment Research upgraded Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective on shares of Tetra Tech in a research note on Thursday. BidaskClub cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Robert W. Baird boosted their price objective on Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $54.57.
In other news, SVP Roger R. Argus sold 1,138 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $49.63, for a total transaction of $56,478.94. Following the completion of the sale, the senior vice president now owns 6,948 shares in the company, valued at $344,829.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald J. Chu sold 42,395 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $50.00, for a total value of $2,119,750.00. Following the sale, the executive vice president now owns 58,624 shares of the company’s stock, valued at approximately $2,931,200. The disclosure for this sale can be found here. Insiders have sold 217,211 shares of company stock valued at $10,645,510 in the last 90 days. Company insiders own 3.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TTEK. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tetra Tech by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 1,019 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Tetra Tech by 194.9% during the second quarter. Advisor Group Inc. now owns 3,279 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 2,167 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Tetra Tech during the fourth quarter worth approximately $200,000. CIBC Asset Management Inc purchased a new stake in shares of Tetra Tech during the fourth quarter worth approximately $205,000. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of Tetra Tech during the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 85.01% of the company’s stock.
Shares of Tetra Tech (TTEK) traded down $2.90 during midday trading on Friday, reaching $47.75. The company’s stock had a trading volume of 371,224 shares, compared to its average volume of 231,589. 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 one year low of $38.85 and a one year high of $53.40. The stock has a market capitalization of $2,660.00, a PE ratio of 19.90, a P/E/G ratio of 1.49 and a beta of 1.02.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, February 13th. Tetra Tech’s dividend payout ratio (DPR) is presently 16.67%.
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Tetra Tech Company Profile
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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