Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) – Investment analysts at William Blair cut their Q1 2024 EPS estimates for shares of Tetra Tech in a report issued on Friday, November 17th. William Blair analyst T. Mulrooney now anticipates that the industrial products company will post earnings of $1.35 per share for the quarter, down from their previous estimate of $1.38. William Blair has a “Outperform” rating on the stock. The consensus estimate for Tetra Tech’s current full-year earnings is $5.94 per share. William Blair also issued estimates for Tetra Tech’s Q2 2024 earnings at $1.31 EPS.
A number of other brokerages have also issued reports on TTEK. StockNews.com started coverage on shares of Tetra Tech in a report on Thursday, October 5th. They set a “hold” rating on the stock. KeyCorp raised their target price on shares of Tetra Tech from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Robert W. Baird raised their target price on shares of Tetra Tech from $172.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada started coverage on shares of Tetra Tech in a report on Monday, August 28th. They set an “outperform” rating and a $181.00 target price on the stock. Finally, Maxim Group raised their target price on shares of Tetra Tech from $200.00 to $215.00 in a report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.
Tetra Tech Trading Up 0.8 %
TTEK opened at $165.10 on Monday. Tetra Tech has a 12 month low of $131.19 and a 12 month high of $173.27. The stock has a market capitalization of $8.75 billion, a P/E ratio of 32.37 and a beta of 1.00. The firm’s fifty day simple moving average is $155.50 and its 200 day simple moving average is $157.09. The company has a current ratio of 1.13, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.
Tetra Tech (NASDAQ:TTEK – Get Free Report) last posted its quarterly earnings data on Wednesday, November 15th. The industrial products company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.44 by $0.34. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Tetra Tech had a net margin of 6.05% and a return on equity of 21.63%. The firm’s revenue was up 43.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in TTEK. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tetra Tech in the second quarter valued at approximately $29,000. Parallel Advisors LLC lifted its holdings in shares of Tetra Tech by 109.0% during the first quarter. Parallel Advisors LLC now owns 209 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 109 shares during the period. Denali Advisors LLC lifted its holdings in shares of Tetra Tech by 92.6% during the second quarter. Denali Advisors LLC now owns 208 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 100 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Tetra Tech by 76.1% during the first quarter. Raleigh Capital Management Inc. now owns 236 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 102 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Tetra Tech by 165.9% during the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock worth $35,000 after buying an additional 151 shares during the last quarter. 87.95% of the stock is owned by institutional investors.
Tetra Tech Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Thursday, November 30th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.04 dividend on an annualized basis and a yield of 0.63%. Tetra Tech’s dividend payout ratio (DPR) is 20.39%.
About Tetra Tech
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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