Tetra Tech, Inc. (NASDAQ:TTEK) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.60-0.62 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.70. The company issued revenue guidance of $500-520 million, compared to the consensus revenue estimate of $558.66 million.Tetra Tech also updated its FY17 guidance to $2.10-2.12 EPS.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) traded down 3.44% during trading on Wednesday, reaching $46.30. 300,850 shares of the company traded hands. The company has a market capitalization of $2.65 billion, a P/E ratio of 24.43 and a beta of 1.03. The company’s 50-day moving average price is $46.27 and its 200-day moving average price is $43.57. Tetra Tech, Inc. has a 52 week low of $32.63 and a 52 week high of $48.35.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Tetra Tech had a net margin of 4.04% and a return on equity of 13.70%. The company had revenue of $511.95 million for the quarter, compared to analysts’ expectations of $491.60 million. During the same quarter last year, the business earned $0.37 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Tetra Tech, Inc. will post $2.22 EPS for the current fiscal year.
A number of brokerages have issued reports on TTEK. Roth Capital set a $52.00 price objective on shares of Tetra Tech and gave the company a buy rating in a report on Wednesday. Zacks Investment Research raised shares of Tetra Tech from a hold rating to a buy rating and set a $51.00 price objective for the company in a report on Tuesday, July 4th. Canaccord Genuity reaffirmed a buy rating and set a $52.00 price objective on shares of Tetra Tech in a report on Wednesday, June 7th. Sidoti reaffirmed a buy rating and set a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $50.00 price objective on shares of Tetra Tech in a report on Friday, July 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tetra Tech presently has an average rating of Buy and a consensus target price of $49.75.
In related news, CFO Steven M. Burdick sold 16,750 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $44.87, for a total value of $751,572.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian N. Carter sold 3,396 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $46.20, for a total transaction of $156,895.20. Following the completion of the transaction, the senior vice president now directly owns 7,243 shares of the company’s stock, valued at $334,626.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,347 shares of company stock valued at $11,646,434. Insiders own 4.00% of the company’s stock.
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Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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