Tetra Tech (NASDAQ:TTEK – Get Rating) will be posting its quarterly earnings results after the market closes on Wednesday, August 3rd. Analysts expect Tetra Tech to post earnings of $1.05 per share for the quarter. Tetra Tech has set its Q3 guidance at $1.00-$1.05 EPS and its FY22 guidance at $4.30-$4.40 EPS.Parties interested in listening to the company’s conference call can do so using this link.
Tetra Tech (NASDAQ:TTEK – Get Rating) last posted its earnings results on Wednesday, May 4th. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $699.64 million for the quarter, compared to analyst estimates of $653.85 million. Tetra Tech had a return on equity of 18.53% and a net margin of 7.53%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. On average, analysts expect Tetra Tech to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Tetra Tech Price Performance
Tetra Tech stock opened at $146.82 on Wednesday. The company has a market capitalization of $7.88 billion, a PE ratio of 31.24 and a beta of 0.88. Tetra Tech has a 12 month low of $118.55 and a 12 month high of $192.91. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $133.54 and a two-hundred day moving average price of $144.16.
Tetra Tech Increases Dividend
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The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, May 12th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.20. Tetra Tech’s dividend payout ratio (DPR) is currently 19.57%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Maxim Group dropped their target price on shares of Tetra Tech from $215.00 to $190.00 in a report on Friday, May 6th. Northcoast Research initiated coverage on Tetra Tech in a research report on Friday, July 15th. They set a “neutral” rating for the company. Boenning Scattergood reaffirmed a “neutral” rating on shares of Tetra Tech in a research note on Thursday, May 5th. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Wednesday, July 13th.
Institutional Trading of Tetra Tech
Large investors have recently made changes to their positions in the company. Covestor Ltd increased its stake in Tetra Tech by 90.8% in the 1st quarter. Covestor Ltd now owns 248 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 118 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Tetra Tech in the first quarter valued at approximately $212,000. Cetera Investment Advisers acquired a new stake in shares of Tetra Tech during the first quarter worth approximately $284,000. US Bancorp DE grew its position in shares of Tetra Tech by 4.2% during the first quarter. US Bancorp DE now owns 2,170 shares of the industrial products company’s stock worth $358,000 after buying an additional 87 shares in the last quarter. Finally, Cetera Advisor Networks LLC bought a new position in Tetra Tech during the first quarter worth $421,000. 87.75% of the stock is owned by institutional investors and hedge funds.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. The company operates through two segments Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.
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