Q3 2016 EPS Estimates for Tetra Technologies Inc. Reduced by Capital One Financial Corp. (TTI)
Tetra Technologies Inc. (NYSE:TTI) – Equities researchers at Capital One Financial Corp. cut their Q3 2016 earnings estimates for Tetra Technologies in a research note issued to investors on Monday. Capital One Financial Corp. analyst J. Gibney now expects that the firm will post earnings of ($0.02) per share for the quarter, down from their prior estimate of $0.03. Capital One Financial Corp. also issued estimates for Tetra Technologies’ Q4 2016 earnings at ($0.06) EPS, FY2016 earnings at ($0.47) EPS, Q1 2017 earnings at ($0.13) EPS, Q2 2017 earnings at ($0.03) EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($0.20) EPS and FY2018 earnings at ($0.05) EPS.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm earned $175.66 million during the quarter, compared to analysts’ expectations of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The company’s quarterly revenue was down 44.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS.
Several other equities analysts have also recently issued reports on TTI. Wunderlich boosted their price objective on Tetra Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 16th. Zacks Investment Research raised Tetra Technologies from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Wednesday, July 13th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $8.00 price target on shares of Tetra Technologies in a report on Monday, July 18th. JPMorgan Chase & Co. set a $8.00 price target on Tetra Technologies and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Simmons reaffirmed an “overweight” rating and issued a $7.60 price target (up previously from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $8.26.
Tetra Technologies (NYSE:TTI) opened at 5.99 on Wednesday. The stock’s market cap is $555.30 million. Tetra Technologies has a one year low of $4.62 and a one year high of $9.44. The stock has a 50 day moving average price of $5.97 and a 200-day moving average price of $6.12.
Several institutional investors have recently made changes to their positions in TTI. BlackRock Fund Advisors boosted its position in shares of Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock worth $34,572,000 after buying an additional 16,658 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock worth $2,097,000 after buying an additional 97,200 shares during the last quarter. HBK Investments L P boosted its position in shares of Tetra Technologies by 1.2% in the first quarter. HBK Investments L P now owns 377,436 shares of the company’s stock worth $2,397,000 after buying an additional 4,636 shares during the last quarter. Boston Partners raised its stake in Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock worth $18,075,000 after buying an additional 1,222,597 shares during the period. Finally, Bank of Montreal Can bought a new stake in Tetra Technologies during the second quarter worth about $358,000. 89.92% of the stock is owned by institutional investors and hedge funds.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the transaction, the vice president now owns 111,161 shares of the company’s stock, valued at $708,095.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.45% of the company’s stock.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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