Q1 2017 EPS Estimates for Tetra Tech Inc. (TTEK) Cut by Analyst
Tetra Tech Inc. (NASDAQ:TTEK) – Equities researchers at Seaport Global Securities lowered their Q1 2017 earnings per share (EPS) estimates for shares of Tetra Tech in a research report issued on Tuesday. Seaport Global Securities analyst R. Cassil now anticipates that the firm will earn $0.48 per share for the quarter, down from their prior forecast of $0.52. Seaport Global Securities also issued estimates for Tetra Tech’s Q2 2017 earnings at $0.50 EPS, Q3 2017 earnings at $0.57 EPS, Q4 2017 earnings at $0.61 EPS and FY2017 earnings at $2.16 EPS.
Several other research firms have also commented on TTEK. DA Davidson reissued a “hold” rating and issued a $35.00 price objective on shares of Tetra Tech in a research report on Wednesday, November 9th. Boenning Scattergood reissued an “outperform” rating on shares of Tetra Tech in a research report on Friday, October 7th. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Tuesday, October 4th. FBR & Co raised their price objective 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. Finally, Canaccord Genuity reissued a “buy” rating and issued a $37.00 price objective on shares of Tetra Tech in a research report on Friday, July 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $34.50.
Shares of Tetra Tech (NASDAQ:TTEK) opened at 41.55 on Wednesday. The company has a 50 day moving average price of $37.85 and a 200-day moving average price of $33.63. Tetra Tech has a 12 month low of $22.85 and a 12 month high of $42.30. The firm has a market capitalization of $2.37 billion, a PE ratio of 29.26 and a beta of 1.09.
Tetra Tech (NASDAQ:TTEK) last announced 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. The firm earned $530.90 million during the quarter, compared to analyst estimates of $524.56 million. Tetra Tech had a net margin of 3.24% and a return on equity of 12.41%. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share.
A number of institutional investors have recently modified their holdings of the stock. Balter Liquid Alternatives LLC increased its position in shares of Tetra Tech by 5.3% in the first quarter. Balter Liquid Alternatives LLC now owns 74,269 shares of the company’s stock worth $2,215,000 after buying an additional 3,766 shares during the last quarter. RobecoSam USA Inc. increased its position in shares of Tetra Tech by 2.5% in the second quarter. RobecoSam USA Inc. now owns 70,264 shares of the company’s stock worth $2,161,000 after buying an additional 1,708 shares during the last quarter. LSV Asset Management increased its position in shares of Tetra Tech by 270.4% in the second quarter. LSV Asset Management now owns 1,749,850 shares of the company’s stock worth $53,799,000 after buying an additional 1,277,487 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Tetra Tech by 57.0% in the second quarter. Suntrust Banks Inc. now owns 66,102 shares of the company’s stock worth $2,032,000 after buying an additional 24,000 shares during the last quarter. Finally, Princeton Alpha Management LP bought a new position in shares of Tetra Tech during the second quarter worth approximately $399,000. Institutional investors own 87.79% of the company’s stock.
In related news, SVP Brian N. Carter sold 5,000 shares of Tetra Tech stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $40.73, for a total value of $203,650.00. Following the completion of the transaction, the senior vice president now directly owns 14,148 shares in the company, valued at $576,248.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin P. Mcdonald sold 5,500 shares of Tetra Tech stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $36.30, for a total value of $199,650.00. Following the completion of the transaction, the senior vice president now owns 19,613 shares of the company’s stock, valued at $711,951.90. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Thursday, December 1st will be paid a $0.09 dividend. 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 0.87%. Tetra Tech’s dividend payout ratio (DPR) 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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