Tetra Tech (TTEK) Forecasted to Post FY2018 Earnings of $2.60 Per Share

Tetra Tech (NASDAQ:TTEK) – Analysts at Oppenheimer lifted their FY2018 earnings per share (EPS) estimates for shares of Tetra Tech in a report issued on Thursday, May 3rd. Oppenheimer analyst J. Giannakouros now anticipates that the industrial products company will earn $2.60 per share for the year, up from their previous estimate of $2.50. Oppenheimer also issued estimates for Tetra Tech’s FY2019 earnings at $2.90 EPS.

Several other research analysts have also issued reports on TTEK. Zacks Investment Research lowered Tetra Tech from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. ValuEngine lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub raised Tetra Tech from a “sell” rating to a “hold” rating in a research report on Saturday. Boenning Scattergood reissued a “buy” rating and issued a $65.00 target price on shares of Tetra Tech in a research report on Thursday, March 15th. Finally, Stifel Nicolaus increased their target price on Tetra Tech from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, April 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $57.00.

Shares of NASDAQ:TTEK opened at $49.80 on Monday. Tetra Tech has a 52-week low of $39.95 and a 52-week high of $53.40. The company has a market capitalization of $2,781.38, a PE ratio of 23.38, a PEG ratio of 1.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.05 and a quick ratio of 2.25.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Tetra Tech had a return on equity of 14.38% and a net margin of 4.83%. The firm had revenue of $532.79 million during the quarter, compared to analyst estimates of $509.14 million. During the same quarter in the prior year, the company earned $0.48 EPS. The business’s revenue was up 4.1% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tetra Tech by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock valued at $147,000 after buying an additional 1,019 shares in the last quarter. First National Bank of Omaha increased its position in Tetra Tech by 3.1% during the 1st quarter. First National Bank of Omaha now owns 35,048 shares of the industrial products company’s stock valued at $1,716,000 after buying an additional 1,047 shares in the last quarter. Victory Capital Management Inc. increased its position in Tetra Tech by 21.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,099 shares of the industrial products company’s stock valued at $299,000 after buying an additional 1,075 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Tetra Tech by 4.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 24,000 shares of the industrial products company’s stock valued at $1,156,000 after buying an additional 1,100 shares in the last quarter. Finally, Flinton Capital Management LLC increased its position in Tetra Tech by 18.8% during the 4th quarter. Flinton Capital Management LLC now owns 7,514 shares of the industrial products company’s stock valued at $362,000 after buying an additional 1,190 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

In related news, SVP Mark A. Rynning sold 660 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.44, for a total transaction of $33,290.40. Following the completion of the transaction, the senior vice president now owns 3,358 shares of the company’s stock, valued at approximately $169,377.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William R. Brownlie sold 4,037 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $46.16, for a total value of $186,347.92. Following the transaction, the senior vice president now directly owns 82,226 shares of the company’s stock, valued at approximately $3,795,552.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,618 shares of company stock valued at $7,303,833. 3.40% of the stock is owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Wednesday, May 16th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, May 15th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.10. Tetra Tech’s dividend payout ratio (DPR) is 18.78%.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.

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

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