Tetra Tech, Inc. (NASDAQ: TTEK – Get Rating) – Research analysts at KeyCorp upped their FY2022 earnings per share (EPS) estimates for Tetra Tech in a note issued to investors on Wednesday, May 11th. KeyCorp analyst S. Eastman now expects that the industrial products company will earn $ 4.40 per share for the year, up from their prior estimate of $ 4.28. KeyCorp also issued estimates for Tetra Tech’s FY2023 earnings at $ 4.76 EPS and FY2024 earnings at $ 5.23 EPS. Tetra Tech (NASDAQ: TTEK – Get Rating) last posted its earnings results on Wednesday, May 4th. The industrial products company reported $ 0.98 EPS for the quarter, topping analysts’ consensus estimates of $ 0.90 by $ 0.08. The business had revenue of $ 699.64 million during 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 company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $ 0.83 EPS.
Several other analysts have also commented on the company. Boenning Scattergood reaffirmed a “neutral” rating on shares of Tetra Tech in a report on Thursday, May 5th. Robert W. Baird cut their price objective on Tetra Tech from $ 176.00 to $ 163.00 in a report on Thursday, February 3rd. Maxim Group cut their price objective on Tetra Tech from $ 215.00 to $ 190.00 in a report on Friday, May 6th. Finally, StockNews.com started coverage on Tetra Tech in a report on Thursday, March 31st. They issued a “buy” rating for the company.
Shares of TTEK opened at $ 123.67 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 1.31. Tetra Tech has a one year low of $ 116.01 and a one year high of $ 192.91. The firm has a market capitalization of $ 6.64 billion, a P / E ratio of 26.31 and a beta of 0.93. The business has a fifty day moving average of $ 152.54 and a 200 day moving average of $ 160.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be given a dividend of $ 0.23 per share. The ex-dividend date of this dividend is Thursday, May 12th. This is an increase from Tetra Tech’s previous quarterly dividend of $ 0.20. This represents a $ 0.92 annualized dividend and a yield of 0.74%. Tetra Tech’s payout ratio is 17.02%.
In other news, SVP William R. Brownlie sold 8,967 shares of the business’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $ 165.13, for a total value of $ 1,480,720.71. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick C. Haden sold 318 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $ 164.54, for a total value of $ 52,323.72. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock worth $ 1,673,750 over the last quarter. 1.20% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of TTEK. Norges Bank purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $ 225,525,000. BlackRock Inc. increased its stake in Tetra Tech by 4.9% during the fourth quarter. BlackRock Inc. now owns 7,041,851 shares of the industrial products company’s stock worth $ 1,195,707,000 after acquiring an additional 327,928 shares during the last quarter. Alliancebernstein LP increased its stake in Tetra Tech by 9.3% during the third quarter. Alliancebernstein LP now owns 2,579,871 shares of the industrial products company’s stock worth $ 385,278,000 after acquiring an additional 220,145 shares during the last quarter. abrdn plc increased its stake in Tetra Tech by 37.8% during the first quarter. abrdn plc now owns 665,732 shares of the industrial products company’s stock worth $ 112,449,000 after acquiring an additional 182,715 shares during the last quarter. Finally, Wolf Hill Capital Management LP bought a new stake in Tetra Tech during the third quarter worth approximately $ 430,000. Institutional investors own 87.75% of the company’s stock.
About Tetra Tech (Get Rating)
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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