Tetra Tech (NASDAQ:TTEK) Posts Earnings Results, Beats Estimates By $0.09 EPS

Tetra Tech (NASDAQ:TTEK) released its quarterly earnings results on Wednesday. The industrial products company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09, Briefing.com reports. The firm had revenue of $623.20 million during the quarter, compared to analyst estimates of $605.42 million. Tetra Tech had a net margin of 5.44% and a return on equity of 16.71%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. Tetra Tech updated its Q4 guidance to $0.82-0.87 EPS and its FY19 guidance to $3.10-3.15 EPS.

Shares of NASDAQ TTEK traded down $2.38 during mid-day trading on Thursday, reaching $76.82. 1,212,900 shares of the company were exchanged, compared to its average volume of 427,312. Tetra Tech has a 52 week low of $48.52 and a 52 week high of $86.56. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.36 billion, a PE ratio of 29.10, a PEG ratio of 1.69 and a beta of 1.14. The stock has a 50 day moving average of $79.84.

In other Tetra Tech news, CEO Dan L. Batrack sold 95,109 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $72.49, for a total value of $6,894,451.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark A. Rynning sold 1,395 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $72.31, for a total transaction of $100,872.45. Following the completion of the sale, the senior vice president now directly owns 3,599 shares of the company’s stock, valued at $260,243.69. The disclosure for this sale can be found here. Insiders have sold a total of 97,375 shares of company stock valued at $7,054,003 over the last ninety days. 3.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of TTEK. Norges Bank bought a new stake in Tetra Tech in the fourth quarter worth $98,489,000. Copeland Capital Management LLC bought a new stake in Tetra Tech in the first quarter worth $22,608,000. BlackRock Inc. lifted its stake in Tetra Tech by 3.0% in the first quarter. BlackRock Inc. now owns 8,816,698 shares of the industrial products company’s stock worth $525,387,000 after purchasing an additional 259,378 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Tetra Tech in the first quarter worth $8,067,000. Finally, KBC Group NV lifted its stake in Tetra Tech by 43.9% in the second quarter. KBC Group NV now owns 419,070 shares of the industrial products company’s stock worth $32,918,000 after purchasing an additional 127,866 shares during the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

TTEK has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Maxim Group reaffirmed a “buy” rating and set a $87.00 price objective on shares of Tetra Tech in a report on Wednesday, April 24th. Boenning Scattergood reaffirmed a “buy” rating and set a $80.00 price objective on shares of Tetra Tech in a report on Thursday, May 2nd. Sidoti initiated coverage on shares of Tetra Tech in a report on Tuesday, April 9th. They set a “buy” rating for the company. Finally, ValuEngine raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Tetra Tech has an average rating of “Buy” and a consensus target price of $76.83.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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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Earnings History for Tetra Tech (NASDAQ:TTEK)

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