Tetra Tech Inc. to Post Q1 2017 Earnings of $0.47 Per Share, Oppenheimer Holdings Forecasts (TTEK)
Tetra Tech Inc. (NASDAQ:TTEK) – Stock analysts at Oppenheimer Holdings issued their Q1 2017 earnings per share (EPS) estimates for shares of Tetra Tech in a report issued on Wednesday. Oppenheimer Holdings analyst J. Giannakouros forecasts that the brokerage will earn $0.47 per share for the quarter. Oppenheimer Holdings also issued estimates for Tetra Tech’s Q2 2017 earnings at $0.44 EPS, Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.10 EPS and FY2018 earnings at $2.30 EPS.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $530.90 million for the quarter, compared to analysts’ expectations of $524.56 million. Tetra Tech had a net margin of 0.86% and a return on equity of 12.31%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share.
Several other research firms have also weighed in on TTEK. DA Davidson reiterated a “hold” rating and issued a $35.00 target price on shares of Tetra Tech in a report on Wednesday. Boenning Scattergood reiterated an “outperform” rating on shares of Tetra Tech in a report on Friday, October 7th. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, October 4th. FBR & Co boosted their target price on shares of Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $37.00 target price on shares of Tetra Tech in a report on Friday, July 29th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.50.
Tetra Tech (NASDAQ:TTEK) opened at 39.65 on Friday. Tetra Tech has a one year low of $22.85 and a one year high of $40.10. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 111.38 and a beta of 1.09. The company’s 50-day moving average is $37.20 and its 200 day moving average is $33.32.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders 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 dividend yield of 0.91%. Tetra Tech’s dividend payout ratio is currently 100.00%.
In other news, SVP Craig L. Christensen sold 16,750 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,606,185. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin P. Mcdonald sold 5,500 shares of the company’s stock in a transaction that occurred 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 owns 19,613 shares in the company, valued at $711,951.90. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of TTEK. KCG Holdings Inc. bought a new position in shares of Tetra Tech during the third quarter valued at approximately $738,000. USA Financial Portformulas Corp raised its position in shares of Tetra Tech by 20.4% in the third quarter. USA Financial Portformulas Corp now owns 15,313 shares of the company’s stock valued at $543,000 after buying an additional 2,595 shares in the last quarter. Morgan Stanley raised its position in shares of Tetra Tech by 29.5% in the third quarter. Morgan Stanley now owns 289,042 shares of the company’s stock valued at $10,252,000 after buying an additional 65,925 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Tetra Tech by 2.8% in the third quarter. Principal Financial Group Inc. now owns 433,757 shares of the company’s stock valued at $15,386,000 after buying an additional 11,927 shares in the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Tetra Tech by 97.1% in the third quarter. Spark Investment Management LLC now owns 68,600 shares of the company’s stock valued at $2,433,000 after buying an additional 33,800 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.
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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