Q2 2024 EPS Estimates for TETRA Technologies, Inc. Reduced by Northland Capmk (NYSE:TTI)

TETRA Technologies, Inc. (NYSE:TTI) – Investment analysts at Northland Capmk lowered their Q2 2024 EPS estimates for shares of TETRA Technologies in a research note issued on Thursday, May 2nd. Northland Capmk analyst B. Brooks now anticipates that the oil and gas company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.13. The consensus estimate for TETRA Technologies’ current full-year earnings is $0.27 per share. Northland Capmk also issued estimates for TETRA Technologies’ Q3 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.09 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.16 EPS and FY2025 earnings at $0.54 EPS.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 25.42% and a net margin of 3.27%. The firm had revenue of $153.13 million during the quarter, compared to analyst estimates of $144.76 million.

A number of other research firms also recently commented on TTI. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of TETRA Technologies in a report on Wednesday, May 1st. Northland Securities started coverage on shares of TETRA Technologies in a report on Tuesday, February 20th. They issued an “outperform” rating and a $6.00 price target for the company. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TETRA Technologies has an average rating of “Moderate Buy” and a consensus price target of $7.00.

TETRA Technologies Price Performance

Shares of TTI opened at $3.86 on Monday. TETRA Technologies has a 52 week low of $2.56 and a 52 week high of $6.77. The company has a current ratio of 2.44, a quick ratio of 1.64 and a debt-to-equity ratio of 1.23. The firm has a market cap of $506.20 million, a price-to-earnings ratio of 24.13 and a beta of 2.21. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.43.

Hedge Funds Weigh In On TETRA Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in TETRA Technologies in the 4th quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in shares of TETRA Technologies during the third quarter valued at $33,000. PFG Investments LLC bought a new stake in shares of TETRA Technologies during the first quarter valued at about $44,000. Byrne Asset Management LLC raised its stake in shares of TETRA Technologies by 63.3% during the third quarter. Byrne Asset Management LLC now owns 9,800 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in TETRA Technologies by 15.4% in the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,251 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.