Tetra Technologies, Inc. (TTI) Expected to Announce Quarterly Sales of $226.86 Million
Equities analysts forecast that Tetra Technologies, Inc. (NYSE:TTI) will post $226.86 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Tetra Technologies’ earnings, with the highest sales estimate coming in at $232.79 million and the lowest estimate coming in at $223.40 million. Tetra Technologies reported sales of $176.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 28.5%. The business is expected to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Tetra Technologies will report full year sales of $226.86 million for the current fiscal year, with estimates ranging from $771.00 million to $830.30 million. For the next year, analysts anticipate that the business will report sales of $940.47 million per share, with estimates ranging from $855.00 million to $1.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Tetra Technologies.
Tetra Technologies (NYSE:TTI) last announced its earnings results 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. The company had revenue of $208.37 million for the quarter, compared to the consensus estimate of $204.19 million. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share.
Several equities analysts have recently commented on the stock. Royal Bank Of Canada set a $5.00 price objective on shares of Tetra Technologies and gave the company a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Morgan Stanley lowered their price objective on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $5.67.
Shares of Tetra Technologies (NYSE TTI) traded down 2.93% on Friday, reaching $1.99. The company had a trading volume of 1,570,740 shares. The company’s 50-day moving average is $2.69 and its 200-day moving average is $3.56. The company’s market capitalization is $230.64 million. Tetra Technologies has a one year low of $1.99 and a one year high of $6.77.
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A number of institutional investors have recently added to or reduced their stakes in TTI. Arizona State Retirement System increased its position in shares of Tetra Technologies by 0.3% in the second quarter. Arizona State Retirement System now owns 60,490 shares of the oil and gas company’s stock worth $169,000 after buying an additional 200 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Tetra Technologies by 1.1% in the second quarter. Texas Permanent School Fund now owns 84,657 shares of the oil and gas company’s stock worth $236,000 after buying an additional 938 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of 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 buying an additional 1,961 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Tetra Technologies by 0.3% in the second quarter. Principal Financial Group Inc. now owns 901,989 shares of the oil and gas company’s stock worth $2,517,000 after buying an additional 2,786 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Tetra Technologies by 1.6% in the first quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock worth $789,000 after buying an additional 3,080 shares in the last quarter. 93.54% of the stock is owned by institutional investors.
Tetra Technologies Company Profile
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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