Q1 2017 Earnings Forecast for Tetra Tech Inc. (TTEK) Issued By Seaport Global Securities
Tetra Tech Inc. (NASDAQ:TTEK) – Seaport Global Securities issued their Q1 2017 EPS estimates for Tetra Tech in a research note issued to investors on Wednesday. Seaport Global Securities analyst R. Cassil expects that the firm will post earnings of $0.52 per share for the quarter. Seaport Global Securities also issued estimates for Tetra Tech’s Q2 2017 earnings at $0.53 EPS and Q3 2017 earnings at $0.58 EPS.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, November 9th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $530.90 million for the quarter, compared to analyst estimates of $524.56 million. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The firm’s revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share.
Several other brokerages have also commented on TTEK. FBR & Co upped their target price on Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Zacks Investment Research lowered Tetra Tech from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Boenning Scattergood restated an “outperform” rating on shares of Tetra Tech in a research report on Friday, October 7th. Canaccord Genuity restated a “buy” rating and set a $37.00 target price on shares of Tetra Tech in a research report on Friday, July 29th. Finally, DA Davidson restated a “hold” rating and set a $35.00 target price on shares of Tetra Tech in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $34.50.
Tetra Tech (NASDAQ:TTEK) opened at 39.65 on Friday. 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 has a 12-month low of $22.85 and a 12-month high of $40.10. The company’s 50 day moving average price is $37.20 and its 200-day moving average price is $33.32.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of 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 during the last quarter. US Bancorp DE raised its position in shares of 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 during the last quarter. Invictus RG raised its position in shares of 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 during the last quarter. Tocqueville Asset Management L.P. purchased a new position in shares of Tetra Tech during the third quarter valued at about $207,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Tetra Tech during the third quarter valued at about $220,000. Institutional investors and hedge funds own 89.42% of the company’s stock.
In other Tetra Tech news, SVP Kevin P. Mcdonald sold 5,500 shares of the stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $36.30, for a total value of $199,650.00. Following the transaction, the senior vice president now owns 19,613 shares in the company, valued at $711,951.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Craig L. Christensen sold 16,750 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $35.00, for a total value of $586,250.00. Following the completion of the transaction, the senior vice president now owns 45,891 shares in the company, valued at approximately $1,606,185. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
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 issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.36 annualized dividend and a yield of 0.91%. Tetra Tech’s payout ratio is currently 100.00%.
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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