Boenning Scattergood Comments on Tetra Tech, Inc.’s Q3 2018 Earnings (TTEK)
Tetra Tech, Inc. (NASDAQ:TTEK) – Equities researchers at Boenning Scattergood raised their Q3 2018 earnings per share estimates for shares of Tetra Tech in a research report issued on Thursday. Boenning Scattergood analyst R. Connors now forecasts that the industrial products company will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.56. Boenning Scattergood currently has a “Buy” rating and a $54.00 price target on the stock.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $533.00 million for the quarter, compared to analyst estimates of $517.90 million. Tetra Tech had a return on equity of 13.60% and a net margin of 4.28%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share.
A number of other equities analysts also recently commented on TTEK. Roth Capital set a $52.00 price target on Tetra Tech and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, August 4th. Robert W. Baird reissued a “hold” rating and issued a $47.00 target price on shares of Tetra Tech in a report on Tuesday, September 5th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $47.00 target price on shares of Tetra Tech in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Tetra Tech has an average rating of “Hold” and a consensus target price of $52.29.
Shares of Tetra Tech (TTEK) traded down $0.42 during trading on Monday, hitting $47.63. The stock had a trading volume of 45,657 shares, compared to its average volume of 347,437. The firm has a market capitalization of $2,748.95, a P/E ratio of 23.10, a PEG ratio of 1.57 and a beta of 1.08. Tetra Tech has a 12 month low of $38.85 and a 12 month high of $50.15. The company has a quick ratio of 1.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.37.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, November 29th. Tetra Tech’s dividend payout ratio is currently 19.61%.
In other news, insider Ronald J. Chu sold 14,112 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total transaction of $705,600.00. Following the transaction, the insider now owns 51,216 shares in the company, valued at approximately $2,560,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ronald J. Chu sold 42,395 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.00, for a total transaction of $2,119,750.00. Following the completion of the sale, the executive vice president now directly owns 58,624 shares in the company, valued at approximately $2,931,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,203 shares of company stock worth $2,860,150. 4.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Rathbone Brothers plc raised its holdings in Tetra Tech by 3.2% in the third quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock worth $1,555,000 after purchasing an additional 1,050 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Tetra Tech during the second quarter worth $1,003,000. Capital Fund Management S.A. bought a new stake in shares of Tetra Tech during the second quarter worth $581,000. Koch Industries Inc. bought a new stake in shares of Tetra Tech during the second quarter worth $506,000. Finally, State Street Corp increased its position in shares of Tetra Tech by 6.8% during the first quarter. State Street Corp now owns 1,428,061 shares of the industrial products company’s stock worth $58,339,000 after acquiring an additional 90,381 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.
Tetra Tech Company Profile
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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