$219.30 Million in Sales Expected for TETRA Technologies, Inc. (TTI) This Quarter
Wall Street brokerages predict that TETRA Technologies, Inc. (NYSE:TTI) will post $219.30 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for TETRA Technologies’ earnings. The lowest sales estimate is $203.10 million and the highest is $239.00 million. TETRA Technologies posted sales of $173.22 million in the same quarter last year, which would indicate a positive year over year growth rate of 26.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that TETRA Technologies will report full-year sales of $219.30 million for the current year, with estimates ranging from $796.98 million to $831.70 million. For the next year, analysts forecast that the company will post sales of $957.13 million per share, with estimates ranging from $909.95 million to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for TETRA Technologies.
TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $216.36 million for the quarter, compared to analysts’ expectations of $218.65 million. TETRA Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS.
TTI has been the topic of several research analyst reports. Zacks Investment Research lowered shares of TETRA Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Piper Jaffray Companies set a $5.00 price objective on TETRA Technologies and gave the stock a “buy” rating in a research report on Friday, December 29th. ValuEngine raised TETRA Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 14th. Royal Bank of Canada set a $3.00 target price on TETRA Technologies and gave the stock a “hold” rating in a research note on Saturday, October 7th. Finally, Morgan Stanley boosted their target price on TETRA Technologies from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $5.00.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ramsey Quantitative Systems acquired a new position in shares of TETRA Technologies in the 2nd quarter worth approximately $666,000. JPMorgan Chase & Co. lifted its holdings in shares of TETRA Technologies by 3,012.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 46,187 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 44,703 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in TETRA Technologies by 326.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 36,687 shares in the last quarter. GSA Capital Partners LLP raised its stake in TETRA Technologies by 73.7% during the 2nd quarter. GSA Capital Partners LLP now owns 57,037 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 24,198 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of TETRA Technologies by 68.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 58,889 shares of the oil and gas company’s stock worth $168,000 after buying an additional 23,839 shares in the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.
Shares of TETRA Technologies (TTI) remained flat at $$4.34 during mid-day trading on Monday. 651,000 shares of the company’s stock were exchanged, compared to its average volume of 1,180,000. TETRA Technologies has a 52-week low of $1.85 and a 52-week high of $5.10. The company has a current ratio of 2.24, a quick ratio of 1.38 and a debt-to-equity ratio of 1.63. The company has a market cap of $502.95, a PE ratio of -10.09 and a beta of 0.99.
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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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