Analysts Expect Tetra Tech, Inc. (TTEK) Will Post Quarterly Sales of $518.45 Million
Wall Street analysts forecast that Tetra Tech, Inc. (NASDAQ:TTEK) will announce sales of $518.45 million for the current quarter, according to Zacks. Six analysts have provided estimates for Tetra Tech’s earnings, with estimates ranging from $510.00 million to $546.78 million. Tetra Tech posted sales of $530.85 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Tetra Tech will report full-year sales of $518.45 million for the current fiscal year, with estimates ranging from $2.01 billion to $2.05 billion. For the next financial year, analysts expect that the firm will post sales of $2.10 billion per share, with estimates ranging from $2.08 billion to $2.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Tetra Tech.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The company had revenue of $498.47 million for the quarter, compared to the consensus estimate of $535.18 million. Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. Tetra Tech’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
A number of equities analysts have weighed in on TTEK shares. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, July 4th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 target price on shares of Tetra Tech in a research report on Friday, August 4th. Stifel Nicolaus reissued a “hold” rating and issued a $50.00 target price on shares of Tetra Tech in a research report on Friday, July 7th. BidaskClub lowered Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Robert W. Baird reissued a “hold” rating and issued a $47.00 target price on shares of Tetra Tech in a research report on Tuesday, September 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $48.86.
Tetra Tech (NASDAQ TTEK) opened at 47.75 on Tuesday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 24.20 and a beta of 1.07. Tetra Tech has a 52-week low of $36.45 and a 52-week high of $48.80. The company’s 50-day moving average is $44.81 and its 200 day moving average is $44.45.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Tetra Tech by 30.8% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 30,572 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 7,190 shares during the last quarter. Phocas Financial Corp. increased its position in shares of Tetra Tech by 5.0% during the 2nd quarter. Phocas Financial Corp. now owns 244,615 shares of the industrial products company’s stock valued at $11,191,000 after purchasing an additional 11,659 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tetra Tech during the 2nd quarter valued at about $684,000. Koch Industries Inc. purchased a new stake in shares of Tetra Tech during the 2nd quarter valued at about $506,000. Finally, Verition Fund Management LLC increased its position in shares of Tetra Tech by 55.7% during the 2nd quarter. Verition Fund Management LLC now owns 9,031 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 3,230 shares during the last quarter. 84.77% of the stock is owned by hedge funds and other institutional investors.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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