Tetra Tech (NASDAQ:TTEK) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

by · The Markets Daily

Tetra Tech (NASDAQ:TTEK – Get Free Report) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04, Zacks reports. Tetra Tech had a net margin of 4.55% and a return on equity of 25.79%.

Tetra Tech Stock Performance

Shares of Tetra Tech stock traded down $0.23 on Wednesday, reaching $37.10. 2,679,391 shares of the company were exchanged, compared to its average volume of 2,032,621. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 39.89 and a beta of 0.90. The company’s 50-day moving average is $34.94 and its two-hundred day moving average is $35.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. Tetra Tech has a 1-year low of $27.27 and a 1-year high of $38.78.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, December 1st were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, December 1st. Tetra Tech’s payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of recent analyst reports. Robert W. Baird upped their price objective on Tetra Tech from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 target price (up from $47.00) on shares of Tetra Tech in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tetra Tech in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Sunday, November 23rd. Finally, National Bank Financial began coverage on shares of Tetra Tech in a research report on Wednesday, October 8th. They set an “outperform” rating and a $41.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.20.

Check Out Our Latest Analysis on TTEK

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC boosted its stake in Tetra Tech by 13.0% during the 3rd quarter. Parallel Advisors LLC now owns 4,982 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 574 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of Tetra Tech by 5.4% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 11,465 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 586 shares during the period. Fred Alger Management LLC boosted its position in shares of Tetra Tech by 5.9% in the third quarter. Fred Alger Management LLC now owns 12,237 shares of the industrial products company’s stock worth $408,000 after buying an additional 685 shares during the period. Raymond James Financial Inc. grew its stake in Tetra Tech by 0.4% during the 3rd quarter. Raymond James Financial Inc. now owns 179,669 shares of the industrial products company’s stock valued at $5,997,000 after acquiring an additional 727 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Tetra Tech by 136.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company’s stock worth $38,000 after buying an additional 751 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

About Tetra Tech

(Get Free Report)

Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech’s multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.

The company’s core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.

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