Zacks: Brokerages Anticipate Tetra Tech, Inc. (TTEK) to Post $0.63 Earnings Per Share

Brokerages expect that Tetra Tech, Inc. (NASDAQ:TTEK) will announce earnings per share (EPS) of $0.63 for the current quarter, according to Zacks. Four analysts have made estimates for Tetra Tech’s earnings, with estimates ranging from $0.60 to $0.70. Tetra Tech reported earnings of $0.65 per share in the same quarter last year, which indicates a negative year over year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that Tetra Tech will report full year earnings of $2.88 per share for the current year, with EPS estimates ranging from $2.80 to $2.91. For the next fiscal year, analysts expect that the company will post earnings of $3.12 per share, with EPS estimates ranging from $3.06 to $3.23. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Tetra Tech.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. Tetra Tech had a net margin of 4.62% and a return on equity of 15.80%. The company had revenue of $563.67 million during the quarter, compared to the consensus estimate of $571.33 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Tetra Tech’s revenue was up 5.7% on a year-over-year basis.

TTEK has been the subject of a number of research reports. Roth Capital increased their price target on shares of Tetra Tech from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research upgraded shares of Tetra Tech from a “sell” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Monday, August 6th. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 25th. Maxim Group set a $87.00 price target on shares of Tetra Tech and gave the company a “buy” rating in a report on Thursday, November 8th. Finally, Robert W. Baird increased their price target on shares of Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, November 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.71.

In other news, Director Kirsten M. Volpi sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total transaction of $80,328.00. Following the sale, the director now owns 8,801 shares in the company, valued at $589,138.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brian N. Carter sold 8,215 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $62.28, for a total transaction of $511,630.20. Following the sale, the senior vice president now owns 7,430 shares in the company, valued at approximately $462,740.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,034 shares of company stock worth $3,958,744. Corporate insiders own 3.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Tetra Tech by 3.1% in the third quarter. BlackRock Inc. now owns 8,418,074 shares of the industrial products company’s stock worth $574,955,000 after purchasing an additional 251,711 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tetra Tech by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,584,328 shares of the industrial products company’s stock worth $381,410,000 after purchasing an additional 84,426 shares during the last quarter. KAMES CAPITAL plc boosted its holdings in Tetra Tech by 2.6% in the third quarter. KAMES CAPITAL plc now owns 1,480,699 shares of the industrial products company’s stock worth $101,132,000 after purchasing an additional 37,262 shares during the last quarter. Boston Partners boosted its holdings in Tetra Tech by 0.4% in the second quarter. Boston Partners now owns 1,054,385 shares of the industrial products company’s stock worth $61,682,000 after purchasing an additional 4,525 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Tetra Tech by 6.0% in the third quarter. Macquarie Group Ltd. now owns 971,031 shares of the industrial products company’s stock worth $66,322,000 after purchasing an additional 55,171 shares during the last quarter. Institutional investors own 83.89% of the company’s stock.

TTEK stock opened at $60.96 on Friday. Tetra Tech has a 1 year low of $44.65 and a 1 year high of $72.56. The stock has a market capitalization of $3.37 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.51 and a beta of 0.98. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 29th. Tetra Tech’s payout ratio is 18.18%.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.

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