Analysts Set Expectations for Tetra Tech Inc.’s FY2017 Earnings (TTEK)
Tetra Tech Inc. (NASDAQ:TTEK) – Equities researchers at Boenning Scattergood upped their FY2017 earnings per share (EPS) estimates for Tetra Tech in a note issued to investors on Thursday. Boenning Scattergood analyst R. Connors now forecasts that the firm will post earnings of $2.26 per share for the year, up from their previous estimate of $2.25. Boenning Scattergood has a “Outperform” rating on the stock. Boenning Scattergood also issued estimates for Tetra Tech’s Q4 2017 earnings at $0.75 EPS.
Tetra Tech (NASDAQ:TTEK) last issued its 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. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The firm earned $530.90 million during the quarter, compared to analyst estimates of $524.56 million. During the same period in the previous year, the company earned $0.50 EPS. Tetra Tech’s revenue for the quarter was up 24.3% on a year-over-year basis.
A number of other equities analysts have also commented on the company. DA Davidson reaffirmed a “hold” rating and issued a $35.00 price target on shares of Tetra Tech in a report on Wednesday. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, October 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price target on shares of Tetra Tech in a report on Friday, July 29th. Finally, FBR & Co raised their price target on Tetra Tech from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Tetra Tech has an average rating of “Buy” and a consensus price target of $34.50.
Shares of Tetra Tech (NASDAQ:TTEK) opened at 39.65 on Friday. The firm has a 50 day moving average price of $37.20 and a 200-day moving average price of $33.32. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 111.38 and a beta of 1.09. Tetra Tech has a 52-week low of $22.85 and a 52-week high of $40.10.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in Tetra Tech by 1,444.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,337 shares of the company’s stock valued at $102,000 after buying an additional 3,121 shares in the last quarter. US Bancorp DE increased its position in Tetra Tech by 8.0% in the second quarter. US Bancorp DE now owns 4,196 shares of the company’s stock valued at $129,000 after buying an additional 312 shares in the last quarter. Invictus RG increased its position in Tetra Tech by 1,003.7% in the first quarter. Invictus RG now owns 4,448 shares of the company’s stock valued at $133,000 after buying an additional 4,045 shares in the last quarter. Tocqueville Asset Management L.P. bought a new position in Tetra Tech during the third quarter valued at approximately $207,000. Finally, Quadrature Capital Ltd bought a new position in Tetra Tech during the third quarter valued at approximately $220,000. Institutional investors and hedge funds own 89.42% of the company’s stock.
In other Tetra Tech news, SVP Craig L. Christensen sold 16,750 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $586,250.00. Following the sale, the senior vice president now owns 45,891 shares in the company, valued at $1,606,185. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin P. Mcdonald sold 5,500 shares of the firm’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $36.30, for a total value of $199,650.00. Following the sale, the senior vice president now owns 19,613 shares in the company, valued at approximately $711,951.90. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
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 given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Tetra Tech’s payout ratio is 100.00%.
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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