Tetra Technologies Inc. Forecasted to Earn Q3 2016 Earnings of ($0.02) Per Share (TTI)
Tetra Technologies Inc. (NYSE:TTI) – Equities researchers at Capital One Financial Corp. dropped their Q3 2016 earnings estimates for shares of Tetra Technologies in a note issued to investors on Monday. Capital One Financial Corp. analyst J. Gibney now anticipates that the firm will post earnings per share of ($0.02) for the quarter, down from their previous estimate of $0.03. Capital One Financial Corp. also issued estimates for Tetra Technologies’ Q4 2016 earnings at ($0.06) EPS, FY2016 earnings at ($0.47) EPS, Q1 2017 earnings at ($0.13) EPS, Q2 2017 earnings at ($0.03) EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($0.20) EPS and FY2018 earnings at ($0.05) EPS.
A number of other equities analysts have also recently issued reports on TTI. Zacks Investment Research upgraded Tetra Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 15th. Wunderlich upped their price objective on Tetra Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 16th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $8.00 price objective on shares of Tetra Technologies in a report on Monday, July 18th. JPMorgan Chase & Co. set a $8.00 price objective on Tetra Technologies and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Simmons reiterated an “overweight” rating and issued a $7.60 price objective (up from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Tetra Technologies has a consensus rating of “Buy” and an average price target of $8.26.
Shares of Tetra Technologies (NYSE:TTI) traded down 1.48% during trading on Wednesday, hitting $6.01. The company had a trading volume of 238,255 shares. The stock’s market capitalization is $557.16 million. Tetra Technologies has a 12-month low of $4.62 and a 12-month high of $9.44. The stock has a 50-day moving average of $5.99 and a 200 day moving average of $6.12.
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Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The business earned $175.66 million during the quarter, compared to analyst estimates of $188.42 million. During the same period in the previous year, the firm earned $0.16 EPS. Tetra Technologies’s quarterly revenue was down 44.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock valued at $34,572,000 after buying an additional 16,658 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock valued at $2,097,000 after buying an additional 97,200 shares in the last quarter. HBK Investments L P raised its position in shares of Tetra Technologies by 1.2% in the first quarter. HBK Investments L P now owns 377,436 shares of the company’s stock valued at $2,397,000 after buying an additional 4,636 shares in the last quarter. Boston Partners raised its position in shares of Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock valued at $18,075,000 after buying an additional 1,222,597 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Tetra Technologies during the second quarter valued at about $358,000. 89.92% of the stock is owned by hedge funds and other institutional investors.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the transaction, the vice president now owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.45% of the company’s stock.
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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