$224.80 Million in Sales Expected for Tetra Technologies, Inc. (TTI) This Quarter
Equities analysts forecast that Tetra Technologies, Inc. (NYSE:TTI) will post $224.80 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Tetra Technologies’ earnings, with estimates ranging from $213.54 million to $234.70 million. Tetra Technologies posted sales of $176.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.3%. The business is scheduled to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Tetra Technologies will report full-year sales of $224.80 million for the current year, with estimates ranging from $781.53 million to $853.30 million. For the next year, analysts forecast that the company will report sales of $939.83 million per share, with estimates ranging from $876.21 million to $1.06 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Tetra Technologies.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The firm had revenue of $208.37 million for the quarter, compared to analyst estimates of $204.19 million. During the same quarter last year, the firm earned ($0.15) EPS. The company’s revenue was up 18.6% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. Royal Bank Of Canada set a $5.00 price target on shares of Tetra Technologies and gave the stock a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, J P Morgan Chase & Co downgraded shares of Tetra Technologies from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Tetra Technologies presently has a consensus rating of “Buy” and a consensus price target of $5.33.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ramsey Quantitative Systems bought a new stake in shares of Tetra Technologies during the second quarter valued at about $666,000. Municipal Employees Retirement System of Michigan raised its position in 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 acquiring an additional 5,030 shares in the last quarter. Mason Street Advisors LLC raised its position in 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 acquiring an additional 1,961 shares in the last quarter. Karp Capital Management Corp bought a new stake in Tetra Technologies in the first quarter worth about $121,000. Finally, Gotham Asset Management LLC bought a new stake in Tetra Technologies in the first quarter worth about $128,000. Institutional investors and hedge funds own 91.01% of the company’s stock.
Shares of Tetra Technologies (NYSE TTI) traded up 2.941% on Tuesday, hitting $2.625. 686,898 shares of the stock traded hands. The firm’s market cap is $304.23 million. The firm’s 50-day moving average is $2.18 and its 200 day moving average is $3.05. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $6.34.
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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