Tetra Tech, Inc. (NASDAQ:TTEK) – Stock analysts at KeyCorp reduced their Q2 2018 earnings per share (EPS) estimates for Tetra Tech in a research report issued on Thursday. KeyCorp analyst S. Eastman now forecasts that the industrial products company will earn $0.50 per share for the quarter, down from their previous forecast of $0.51. KeyCorp also issued estimates for Tetra Tech’s Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $2.80 EPS.
TTEK has been the topic of several other research reports. BidaskClub downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Robert W. Baird increased their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Finally, Canaccord Genuity restated a “buy” rating and set a $60.00 price objective on shares of Tetra Tech in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $54.57.
Tetra Tech (NASDAQ TTEK) opened at $47.75 on Monday. The stock has a market cap of $2,660.00, a P/E ratio of 19.90, a PEG ratio of 1.49 and a beta of 1.02. Tetra Tech has a 52 week low of $38.85 and a 52 week high of $53.40. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.46.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. The firm had revenue of $544.85 million for the quarter, compared to the consensus estimate of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTEK. Koch Industries Inc. bought a new position in Tetra Tech in the second quarter worth approximately $506,000. Assenagon Asset Management S.A. bought a new position in Tetra Tech in the fourth quarter worth approximately $8,213,000. Allianz Asset Management GmbH raised its position in Tetra Tech by 35.5% in the third quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock worth $27,113,000 after acquiring an additional 152,695 shares during the period. Janus Henderson Group PLC raised its position in Tetra Tech by 270.8% in the second quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock worth $8,833,000 after acquiring an additional 141,066 shares during the period. Finally, Wells Fargo & Company MN raised its position in Tetra Tech by 76.4% in the third quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after acquiring an additional 137,887 shares during the period. Institutional investors and hedge funds own 85.01% of the company’s stock.
In related news, CEO Dan L. Batrack sold 43,317 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $48.65, for a total transaction of $2,107,372.05. Following the transaction, the chief executive officer now owns 318,994 shares in the company, valued at $15,519,058.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Roger R. Argus sold 1,138 shares of the 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 transaction, the senior vice president now owns 6,948 shares in the company, valued at $344,829.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,211 shares of company stock worth $10,645,510. 3.40% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. Tetra Tech’s dividend payout ratio (DPR) is 16.67%.
About Tetra Tech
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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