Tetra Tech, Inc. (TTEK) Expected to Announce Earnings of $0.51 Per Share

Wall Street analysts forecast that Tetra Tech, Inc. (NASDAQ:TTEK) will report earnings per share of $0.51 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Tetra Tech’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.50. Tetra Tech posted earnings per share of $0.48 in the same quarter last year, which would indicate a positive year over year growth rate of 6.3%. The firm is expected to report its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Tetra Tech will report full year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $2.51. For the next fiscal year, analysts anticipate that the company will post earnings of $2.79 per share, with EPS estimates ranging from $2.73 to $2.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tetra Tech.

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Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The firm had revenue of $544.85 million during the quarter, compared to analyst estimates of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS.

A number of equities research analysts have recently weighed in on TTEK shares. Boenning Scattergood restated a “buy” rating and issued a $65.00 price objective on shares of Tetra Tech in a report on Thursday, March 15th. ValuEngine upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Friday, February 2nd. Canaccord Genuity reiterated a “buy” rating and set a $60.00 price target on shares of Tetra Tech in a report on Thursday, February 1st. Finally, Stifel Nicolaus upped their price target on shares of Tetra Tech from $52.00 to $53.00 and gave the company a “hold” rating in a report on Monday, April 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Tetra Tech has an average rating of “Buy” and an average target price of $57.00.

Shares of TTEK opened at $49.15 on Monday. The company has a market capitalization of $2,745.08, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.25 and a quick ratio of 2.25. Tetra Tech has a fifty-two week low of $39.95 and a fifty-two week high of $53.40.

In other Tetra Tech news, SVP Richard A. Lemmon sold 1,661 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $52.23, for a total value of $86,754.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $50.36, for a total transaction of $640,226.68. The disclosure for this sale can be found here. Insiders have sold a total of 164,331 shares of company stock valued at $8,343,340 over the last quarter. 3.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. Millennium Management LLC raised its holdings in Tetra Tech by 833.1% in the 4th quarter. Millennium Management LLC now owns 236,558 shares of the industrial products company’s stock worth $11,390,000 after purchasing an additional 211,205 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Tetra Tech in the 4th quarter worth about $8,213,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Tetra Tech in the 4th quarter worth about $7,546,000. Allianz Asset Management GmbH grew its position in shares of Tetra Tech by 35.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock worth $27,113,000 after buying an additional 152,695 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Tetra Tech by 76.4% in the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after buying an additional 137,887 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

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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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Earnings History and Estimates for Tetra Tech (NASDAQ:TTEK)

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