Brokerages expect TETRA Technologies, Inc. (NYSE:TTI) to post $219.80 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for TETRA Technologies’ earnings. The highest sales estimate is $239.00 million and the lowest is $207.15 million. TETRA Technologies reported sales of $173.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.9%. The company is expected to report its next earnings results before the market opens on Wednesday, February 28th.
According to Zacks, analysts expect that TETRA Technologies will report full-year sales of $219.80 million for the current fiscal year, with estimates ranging from $801.03 million to $831.70 million. For the next financial year, analysts forecast that the firm will post sales of $998.02 million per share, with estimates ranging from $945.02 million to $1.04 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow TETRA Technologies.
Several research firms have recently weighed in on TTI. Wells Fargo & Co boosted their target price on TETRA Technologies from $3.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Loop Capital boosted their target price on TETRA Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 10th. Scotia Howard Weill reissued a “sector perform” rating on shares of TETRA Technologies in a report on Friday, January 12th. ValuEngine raised TETRA Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $5.00.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new stake in TETRA Technologies during the 4th quarter valued at approximately $246,000. Municipal Employees Retirement System of Michigan raised its stake in TETRA Technologies by 662.1% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 331,590 shares of the oil and gas company’s stock valued at $1,416,000 after acquiring an additional 288,080 shares during the last quarter. Millennium Management LLC raised its stake in TETRA Technologies by 303.6% during the 4th quarter. Millennium Management LLC now owns 4,161,247 shares of the oil and gas company’s stock valued at $17,769,000 after acquiring an additional 3,130,315 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in TETRA Technologies during the 4th quarter valued at approximately $1,067,000. Finally, Teachers Advisors LLC raised its stake in TETRA Technologies by 25.0% during the 4th quarter. Teachers Advisors LLC now owns 388,497 shares of the oil and gas company’s stock valued at $1,659,000 after acquiring an additional 77,662 shares during the last quarter. 88.97% of the stock is owned by hedge funds and other institutional investors.
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About TETRA Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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