Tetra Tech, Inc. (NASDAQ:TTEK) – Equities research analysts at Oppenheimer Holdings increased their FY2017 earnings per share (EPS) estimates for shares of Tetra Tech in a research note issued to investors on Thursday, Zacks Investment Research reports. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the industrial products company will post earnings of $2.20 per share for the year, up from their prior estimate of $2.10. Oppenheimer Holdings also issued estimates for Tetra Tech’s FY2018 earnings at $2.50 EPS.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Tetra Tech had a net margin of 3.24% and a return on equity of 13.28%. The business had revenue of $511.95 million during the quarter, compared to analyst estimates of $491.60 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year.
Several other research firms have also commented on TTEK. Zacks Investment Research lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, February 3rd. Robert W. Baird started coverage on shares of Tetra Tech in a research note on Wednesday, February 1st. They issued a “hold” rating and a $46.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Tetra Tech to $45.00 and gave the company a “hold” rating in a research note on Monday, February 6th. Roth Capital started coverage on shares of Tetra Tech in a report on Wednesday, January 25th. They issued a “buy” rating and a $49.00 target price on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tetra Tech in a report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Tetra Tech currently has an average rating of “Hold” and a consensus target price of $46.56.
Tetra Tech (NASDAQ:TTEK) traded up 0.57% during midday trading on Monday, hitting $44.35. 68,603 shares of the stock traded hands. The firm has a market cap of $2.53 billion, a P/E ratio of 23.40 and a beta of 1.11. Tetra Tech has a 12-month low of $28.01 and a 12-month high of $46.93. The company’s 50-day moving average is $43.16 and its 200 day moving average is $42.03.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock worth $332,349,000 after buying an additional 8,068,959 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock worth $212,946,000 after buying an additional 302,821 shares during the last quarter. Norges Bank purchased a new position in Tetra Tech during the fourth quarter worth $83,979,000. BlackRock Institutional Trust Company N.A. raised its position in Tetra Tech by 7.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,737,387 shares of the industrial products company’s stock worth $61,625,000 after buying an additional 121,109 shares during the period. Finally, State Street Corp raised its position in Tetra Tech by 6.8% in the first quarter. State Street Corp now owns 1,428,061 shares of the industrial products company’s stock worth $58,339,000 after buying an additional 90,381 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Dan L. Batrack sold 150,000 shares of Tetra Tech stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $46.00, for a total value of $6,900,000.00. Following the transaction, the chairman now directly owns 363,011 shares of the company’s stock, valued at approximately $16,698,506. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian N. Carter sold 3,396 shares of Tetra Tech stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $46.20, for a total transaction of $156,895.20. Following the completion of the transaction, the senior vice president now directly owns 7,243 shares in the company, valued at $334,626.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,714 shares of company stock worth $15,776,606. 4.00% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Thursday, May 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, May 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.09. Tetra Tech’s dividend payout ratio (DPR) is presently 24.16%.
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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