Equities research analysts predict that Tetra Tech, Inc. (NASDAQ:TTEK) will announce sales of $541.79 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Tetra Tech’s earnings. The lowest sales estimate is $538.54 million and the highest is $545.00 million. Tetra Tech reported sales of $498.48 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The firm is expected to report its next earnings results on Wednesday, August 1st.
On average, analysts expect that Tetra Tech will report full year sales of $2.20 billion for the current fiscal year, with estimates ranging from $2.17 billion to $2.21 billion. For the next year, analysts anticipate that the company will report sales of $2.30 billion per share, with estimates ranging from $2.28 billion to $2.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tetra Tech.
Get Tetra Tech alerts:Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Tetra Tech had a net margin of 4.83% and a return on equity of 14.38%. The company had revenue of $532.79 million during the quarter, compared to analysts’ expectations of $509.14 million. During the same period in the prior year, the company posted $0.48 earnings per share. Tetra Tech’s revenue for the quarter was up 4.1% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and set a $60.00 price objective on shares of Tetra Tech in a research report on Thursday, February 1st. BidaskClub upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. ValuEngine upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, May 8th. Boenning Scattergood reiterated a “buy” rating and set a $65.00 price objective on shares of Tetra Tech in a research report on Thursday, March 15th. Finally, Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $56.83.
In related news, SVP Mark A. Rynning sold 660 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $50.44, for a total transaction of $33,290.40. Following the transaction, the senior vice president now directly owns 3,358 shares of the company’s stock, valued at $169,377.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director J Kenneth Thompson sold 8,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $50.01, for a total transaction of $400,080.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,581 shares of company stock worth $6,733,486. 3.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. Prime Capital Investment Advisors LLC bought a new position in Tetra Tech during the fourth quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tetra Tech by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock valued at $147,000 after buying an additional 1,019 shares in the last quarter. We Are One Seven LLC bought a new position in shares of Tetra Tech in the fourth quarter valued at $184,000. Global X Management Co. LLC lifted its stake in shares of Tetra Tech by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 3,985 shares of the industrial products company’s stock valued at $192,000 after buying an additional 1,710 shares in the last quarter. Finally, CAPROCK Group Inc. bought a new position in shares of Tetra Tech in the fourth quarter valued at $200,000. 87.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of TTEK traded up $0.35 during trading hours on Tuesday, hitting $53.20. 426,430 shares of the stock were exchanged, compared to its average volume of 271,696. Tetra Tech has a fifty-two week low of $39.95 and a fifty-two week high of $53.40. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.49. The stock has a market cap of $2.96 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Wednesday, May 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 15th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.90%. Tetra Tech’s dividend payout ratio is currently 22.54%.
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.
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