Tetra Tech, Inc. (NASDAQ:TTEK) – Equities researchers at Boenning Scattergood lifted their Q3 2018 earnings per share (EPS) estimates for Tetra Tech in a note issued to investors on Thursday, according to Zacks Investment Research. Boenning Scattergood analyst R. Connors now forecasts that the industrial products company will earn $0.62 per share for the quarter, up from their prior estimate of $0.58. Boenning Scattergood has a “Buy” rating and a $54.00 price target on the stock. Boenning Scattergood also issued estimates for Tetra Tech’s Q1 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.79 EPS and FY2019 earnings at $2.85 EPS.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $544.85 million for the quarter, compared to the consensus estimate of $510.22 million. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share.
Tetra Tech (NASDAQ:TTEK) opened at $45.40 on Friday. The stock has a market capitalization of $2,535.64, a price-to-earnings ratio of 19.83, a PEG ratio of 1.32 and a beta of 1.02. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.46. Tetra Tech has a 1-year low of $38.85 and a 1-year high of $53.40.
Institutional investors and hedge funds have recently modified their holdings of the business. Rathbone Brothers plc increased its position in Tetra Tech by 3.2% in the third quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock worth $1,555,000 after buying an additional 1,050 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Tetra Tech in the third quarter worth about $774,000. Koch Industries Inc. purchased a new stake in shares of Tetra Tech during the second quarter worth about $506,000. Janney Montgomery Scott LLC purchased a new stake in shares of Tetra Tech during the third quarter worth about $330,000. Finally, Wells Fargo & Company MN grew its position in shares of Tetra Tech by 76.4% during the third quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after purchasing an additional 137,887 shares in the last quarter. Institutional investors and hedge funds own 85.01% of the company’s stock.
In other Tetra Tech news, SVP Brian N. Carter sold 12,694 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $49.94, for a total value of $633,938.36. Following the completion of the sale, the senior vice president now owns 23,737 shares in the company, valued at $1,185,425.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.36, for a total value of $640,226.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,529 shares of company stock valued at $9,565,267. Company insiders own 3.40% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Tuesday, February 13th. Tetra Tech’s payout ratio is 16.74%.
About Tetra Tech
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.