Capital One Financial Corporation Brokers Decrease Earnings Estimates for Tetra Technologies, Inc. (TTI)
Tetra Technologies, Inc. (NYSE:TTI) – Investment analysts at Capital One Financial Corporation dropped their FY2017 earnings per share (EPS) estimates for shares of Tetra Technologies in a report issued on Monday. Capital One Financial Corporation analyst L. Lemoine now expects that the oil and gas company will earn ($0.17) per share for the year, down from their previous forecast of ($0.16). Capital One Financial Corporation also issued estimates for Tetra Technologies’ Q4 2017 earnings at ($0.03) EPS and FY2018 earnings at ($0.09) 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 return on equity of 9.56% and a negative net margin of 8.27%. The business had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $204.19 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis.
Several other equities analysts have also commented on the stock. Morgan Stanley lowered their price target on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 21st. ValuEngine lowered shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Tetra Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. J P Morgan Chase & Co lowered shares of Tetra Technologies from an “overweight” rating to a “neutral” rating in a research report on Tuesday, September 12th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $3.25 price target on shares of Tetra Technologies in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $5.31.
Shares of Tetra Technologies (NYSE:TTI) opened at 2.74 on Wednesday. The stock has a 50 day moving average of $2.40 and a 200 day moving average of $2.92. Tetra Technologies has a one year low of $1.85 and a one year high of $6.34. The stock’s market cap is $317.56 million.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. grew its position in Tetra Technologies by 1.6% in the 1st quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock valued at $789,000 after buying an additional 3,080 shares in the last quarter. Engineers Gate Manager LP bought a new position in Tetra Technologies in the 2nd quarter valued at about $356,000. Viking Fund Management LLC grew its position in Tetra Technologies by 13.2% in the 2nd quarter. Viking Fund Management LLC now owns 600,000 shares of the oil and gas company’s stock valued at $1,674,000 after buying an additional 70,000 shares in the last quarter. Neuberger Berman Group LLC grew its position in Tetra Technologies by 3.9% in the 1st quarter. Neuberger Berman Group LLC now owns 3,109,849 shares of the oil and gas company’s stock valued at $12,657,000 after buying an additional 116,893 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Tetra Technologies by 12.1% in the 1st quarter. Ameriprise Financial Inc. now owns 2,968,831 shares of the oil and gas company’s stock valued at $12,083,000 after buying an additional 320,943 shares in the last quarter. Hedge funds and other institutional investors own 91.01% 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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