TIC Solutions (NYSE:TIC) Issues Quarterly Earnings Results

TIC Solutions (NYSE:TIC) announced its quarterly earnings results on Thursday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.29), Zacks reports. TIC Solutions had a negative net margin of 5.69% and a negative return on equity of 4.95%. The company had revenue of $508.27 million during the quarter, compared to analysts’ expectations of $531.05 million.

TIC Solutions Stock Down 5.7%

TIC opened at $7.25 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.41 and a current ratio of 2.41. TIC Solutions has a 52 week low of $6.73 and a 52 week high of $14.94.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research cut shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a report on Thursday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price target (down from $14.00) on shares of TIC Solutions in a research report on Friday. Finally, Weiss Ratings started coverage on shares of TIC Solutions in a research note on Thursday. They issued a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Sell” and an average target price of $8.00.

TIC Solutions Company Profile

TIC Solutions, Inc provides critical asset integrity services in North America. The company offers testing, inspection, certification, and compliance (TICC) services, including various nondestructive testing (NDT) techniques, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. Its NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, prevent costly outages, failures, and accidents, and meet regulatory requirements without damaging the asset or component.