$207.92 Million in Sales Expected for Tetra Technologies, Inc. (NYSE:TTI) This Quarter
Analysts expect Tetra Technologies, Inc. (NYSE:TTI) to report sales of $207.92 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tetra Technologies’ earnings. The lowest sales estimate is $198.30 million and the highest is $215.00 million. Tetra Technologies reported sales of $175.66 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.4%. The business is expected to announce its next earnings results before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Tetra Technologies will report full year sales of $207.92 million for the current year, with estimates ranging from $771.00 million to $830.30 million. For the next fiscal year, analysts forecast that the firm will post sales of $940.47 million per share, with estimates ranging from $855.00 million to $1.07 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Tetra Technologies.
Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, May 10th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. Tetra Technologies had a negative return on equity of 11.46% and a negative net margin of 10.90%. The business had revenue of $168 million during the quarter, compared to the consensus estimate of $168.64 million. During the same period last year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis.
Several research firms have recently weighed in on TTI. Johnson Rice raised Tetra Technologies from an “accumulate” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Thursday, April 13th. Simmons increased their price target on Tetra Technologies from $4.80 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, April 11th. Credit Suisse Group raised Tetra Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $5.00 to $5.50 in a report on Tuesday, April 11th. Royal Bank Of Canada set a $5.00 price target on Tetra Technologies and gave the company a “hold” rating in a report on Friday, June 16th. Finally, Morgan Stanley lowered their price target on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $5.90.
Tetra Technologies (NYSE:TTI) traded up 2.330% during mid-day trading on Wednesday, reaching $2.855. The company’s stock had a trading volume of 342,457 shares. The firm’s market cap is $331.04 million. The company has a 50-day moving average price of $2.89 and a 200-day moving average price of $3.76. Tetra Technologies has a 12-month low of $2.49 and a 12-month high of $6.77.
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Institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC boosted its position in shares of Tetra Technologies by 7.8% in the first quarter. Mason Street Advisors LLC now owns 27,039 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,961 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Tetra Technologies by 1.6% in the first quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock worth $789,000 after buying an additional 3,080 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Tetra Technologies by 1.9% in the first quarter. Legal & General Group Plc now owns 193,258 shares of the oil and gas company’s stock worth $787,000 after buying an additional 3,513 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Tetra Technologies by 23.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the oil and gas company’s stock worth $107,000 after buying an additional 5,030 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Tetra Technologies by 14.3% in the first quarter. American International Group Inc. now owns 68,652 shares of the oil and gas company’s stock worth $279,000 after buying an additional 8,603 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors.
Tetra Technologies Company Profile
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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