FY2022 EPS Estimates for Tetra Tech, Inc. Lifted by Analyst (NASDAQ:TTEK)

Tetra Tech, Inc. (NASDAQ:TTEKGet Rating) – Research analysts at KeyCorp lifted their FY2022 earnings per share estimates for shares of Tetra Tech in a report issued on Wednesday, May 11th. KeyCorp analyst S. Eastman now forecasts that the industrial products company will earn $4.40 per share for the year, up from their previous estimate of $4.28. KeyCorp also issued estimates for Tetra Tech’s FY2023 earnings at $4.76 EPS and FY2024 earnings at $5.23 EPS.

TTEK has been the topic of a number of other research reports. Robert W. Baird cut their price target on shares of Tetra Tech from $176.00 to $163.00 in a research note on Thursday, February 3rd. Boenning Scattergood reissued a “neutral” rating on shares of Tetra Tech in a research report on Thursday, May 5th. Maxim Group dropped their price objective on shares of Tetra Tech from $215.00 to $190.00 in a research report on Friday, May 6th. Finally, StockNews.com initiated coverage on shares of Tetra Tech in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

NASDAQ:TTEK opened at $123.67 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.64 billion, a P/E ratio of 26.31 and a beta of 0.93. Tetra Tech has a fifty-two week low of $116.01 and a fifty-two week high of $192.91. The firm’s 50 day moving average is $152.54 and its two-hundred day moving average is $160.00.

Tetra Tech (NASDAQ:TTEKGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $699.64 million for the quarter, compared to the consensus estimate of $653.85 million. Tetra Tech had a net margin of 7.53% and a return on equity of 18.53%. Tetra Tech’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a $0.23 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.92 annualized dividend and a dividend yield of 0.74%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.20. Tetra Tech’s dividend payout ratio is presently 17.02%.

In related news, SVP William R. Brownlie sold 8,967 shares of the firm’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $165.13, for a total transaction of $1,480,720.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick C. Haden sold 318 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $164.54, for a total transaction of $52,323.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,185 shares of company stock valued at $1,673,750. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Synovus Financial Corp grew its holdings in Tetra Tech by 2.3% during the 1st quarter. Synovus Financial Corp now owns 4,055 shares of the industrial products company’s stock worth $654,000 after acquiring an additional 93 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Tetra Tech by 1.4% during the 1st quarter. Yousif Capital Management LLC now owns 29,056 shares of the industrial products company’s stock worth $4,792,000 after acquiring an additional 400 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Tetra Tech by 8.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 29,944 shares of the industrial products company’s stock worth $5,077,000 after acquiring an additional 2,283 shares in the last quarter. APG Asset Management N.V. grew its holdings in Tetra Tech by 160.3% during the 1st quarter. APG Asset Management N.V. now owns 16,400 shares of the industrial products company’s stock worth $2,431,000 after acquiring an additional 10,100 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Tetra Tech by 2.4% during the 1st quarter. BlackRock Inc. now owns 7,212,877 shares of the industrial products company’s stock worth $1,189,693,000 after acquiring an additional 171,026 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

Tetra Tech Company Profile (Get Rating)

Tetra Tech, Inc provides consulting and engineering services worldwide. The company operates through two segments Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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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