Tetra Tech Inc. (TTEK) Updates Q1 Earnings Guidance
Tetra Tech Inc. (NASDAQ:TTEK) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.44-0.48 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.55. The company issued revenue guidance of $450-475 million, compared to the consensus revenue estimate of $494.18 million.
A number of analysts have commented on the company. DA Davidson reiterated a hold rating and set a $35.00 target price on shares of Tetra Tech in a research report on Wednesday. Boenning Scattergood reiterated an outperform rating on shares of Tetra Tech in a research report on Friday, October 7th. Zacks Investment Research upgraded Tetra Tech from a hold rating to a buy rating and set a $39.00 target price on the stock in a research report on Tuesday, October 4th. FBR & Co boosted their target price on Tetra Tech from $32.00 to $36.00 and gave the stock a market perform rating in a research report on Friday, July 29th. Finally, Canaccord Genuity reiterated a buy rating and set a $37.00 target price on shares of Tetra Tech in a research report on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Tetra Tech presently has a consensus rating of Buy and an average target price of $34.50.
Tetra Tech Inc. (NASDAQ:TTEK) opened at 39.65 on Friday. The company has a 50-day moving average price of $37.10 and a 200 day moving average price of $33.26. Tetra Tech Inc. has a 1-year low of $22.85 and a 1-year high of $40.00. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 111.38 and a beta of 1.09.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $530.90 million for the quarter, compared to the consensus estimate of $524.56 million. Tetra Tech had a net margin of 0.86% and a return on equity of 12.31%. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. Equities analysts anticipate that Tetra Tech Inc. will post $1.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, November 29th. Tetra Tech’s payout ratio is currently 100.00%.
In other Tetra Tech news, SVP Kevin P. Mcdonald sold 5,500 shares of the stock in a transaction on Friday, October 14th. The stock was sold at an average price of $36.30, for a total transaction of $199,650.00. Following the completion of the transaction, the senior vice president now directly owns 19,613 shares of the company’s stock, valued at approximately $711,951.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Craig L. Christensen sold 16,750 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $35.00, for a total value of $586,250.00. Following the transaction, the senior vice president now directly owns 45,891 shares of the company’s stock, valued at $1,606,185. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Profund Advisors LLC raised its position in shares of Tetra Tech by 6.8% in the second quarter. Profund Advisors LLC now owns 19,786 shares of the company’s stock worth $608,000 after buying an additional 1,266 shares during the last quarter. Algert Global LLC bought a new stake in Tetra Tech during the second quarter valued at $435,000. Ingalls & Snyder LLC bought a new stake in Tetra Tech during the second quarter valued at $258,000. Teachers Advisors Inc. raised its stake in Tetra Tech by 5.5% in the second quarter. Teachers Advisors Inc. now owns 103,307 shares of the company’s stock valued at $3,176,000 after buying an additional 5,341 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Tetra Tech by 148.5% in the second quarter. Sei Investments Co. now owns 12,658 shares of the company’s stock valued at $389,000 after buying an additional 7,565 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.
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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