Tetra Tech (NASDAQ:TTEK – Get Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.30-$4.40 for the period, compared to the consensus estimate of $4.32. The company issued revenue guidance of $2.72-$2.82 billion, compared to the consensus revenue estimate of $2.75 billion.Tetra Tech also updated its Q3 guidance to $1.00-$1.05 EPS.
NASDAQ TTEK traded down $3.56 during mid-day trading on Friday, hitting $129.56. The stock had a trading volume of 364,446 shares, compared to its average volume of 283,878. The firm’s 50 day moving average is $155.16 and its 200 day moving average is $161.09. Tetra Tech has a twelve month low of $116.01 and a twelve month high of $192.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 27.57 and a beta of 0.93.
Tetra Tech (NASDAQ:TTEK – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. Tetra Tech had a return on equity of 18.62% and a net margin of 7.53%. The firm had revenue of $699.64 million during the quarter, compared to the consensus estimate of $653.85 million. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts expect that Tetra Tech will post 4.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.71%. Tetra Tech’s dividend payout ratio (DPR) is 17.02%.
A number of brokerages have issued reports on TTEK. Maxim Group cut their target price on Tetra Tech from $215.00 to $190.00 in a research note on Friday. Robert W. Baird cut their target price on Tetra Tech from $176.00 to $163.00 in a research note on Thursday, February 3rd. StockNews.com began coverage on Tetra Tech in a research note on Thursday, March 31st. They issued a buy rating for the company. Finally, Boenning Scattergood reaffirmed a neutral rating on shares of Tetra Tech in a research note on Thursday.
In related news, Director Patrick C. Haden sold 318 shares of the firm’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $164.54, for a total transaction of $52,323.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William R. Brownlie sold 8,967 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $165.13, for a total value of $1,480,720.71. The disclosure for this sale can be found here. Insiders have sold a total of 10,185 shares of company stock valued at $1,673,750 over the last three months. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. JustInvest LLC boosted its holdings in Tetra Tech by 16.7% during the 4th quarter. JustInvest LLC now owns 3,989 shares of the industrial products company’s stock valued at $677,000 after acquiring an additional 572 shares during the period. Belpointe Asset Management LLC purchased a new position in Tetra Tech during the 4th quarter valued at about $108,000. Qtron Investments LLC purchased a new position in Tetra Tech during the 4th quarter valued at about $203,000. California State Teachers Retirement System boosted its holdings in Tetra Tech by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 75,143 shares of the industrial products company’s stock valued at $12,759,000 after acquiring an additional 1,678 shares during the period. Finally, Vident Investment Advisory LLC boosted its holdings in Tetra Tech by 15.6% during the 4th quarter. Vident Investment Advisory LLC now owns 12,651 shares of the industrial products company’s stock valued at $2,148,000 after acquiring an additional 1,705 shares during the period. Institutional investors own 87.75% of the company’s stock.
About Tetra Tech (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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