Tetra Technologies, Inc. Forecasted to Earn FY2017 Earnings of ($0.16) Per Share (NYSE:TTI)
Tetra Technologies, Inc. (NYSE:TTI) – Research analysts at Capital One Financial Corporation reduced their FY2017 earnings per share estimates for shares of Tetra Technologies in a report released on Thursday. Capital One Financial Corporation analyst L. Lemoine now anticipates that the oil and gas company will post earnings per share of ($0.16) for the year, down from their prior forecast of ($0.13). Capital One Financial Corporation also issued estimates for Tetra Technologies’ Q4 2017 earnings at ($0.02) EPS, Q1 2018 earnings at ($0.14) EPS and FY2018 earnings at ($0.08) EPS.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The business had revenue of $208.37 million during the quarter, compared to analyst estimates of $204.19 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Tetra Technologies’s revenue for the quarter was up 18.6% compared to the same quarter last year.
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A number of other brokerages also recently weighed in on TTI. Royal Bank Of Canada set a $5.00 target price on Tetra Technologies and gave the stock a “hold” rating in a report on Friday, June 16th. Morgan Stanley lowered their target price on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, June 21st. BidaskClub downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research downgraded Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $5.67.
Tetra Technologies (TTI) opened at 1.99 on Monday. The company has a 50 day moving average price of $2.69 and a 200 day moving average price of $3.56. The firm’s market capitalization is $230.64 million. Tetra Technologies has a 12 month low of $1.99 and a 12 month high of $6.77.
A number of large investors have recently made changes to their positions in TTI. Prudential Financial Inc. boosted its stake 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 during the period. Norges Bank purchased a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $15,354,000. Bank of Montreal Can boosted its stake in shares of Tetra Technologies by 148.8% in the first quarter. Bank of Montreal Can now owns 163,984 shares of the oil and gas company’s stock worth $667,000 after buying an additional 98,067 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock worth $16,230,000 after buying an additional 753,964 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Tetra Technologies by 3.9% in the first quarter. Neuberger Berman Group LLC now owns 3,109,849 shares of the oil and gas company’s stock worth $12,657,000 after buying an additional 116,893 shares during the period. 93.54% of the stock is owned by hedge funds and other institutional investors.
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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