Tetra Tech (NASDAQ:TTEK) Posts Earnings Results, Beats Estimates By $0.04 EPS

Tetra Tech (NASDAQ:TTEK) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04, Zacks reports. Tetra Tech had a return on equity of 25.79% and a net margin of 4.55%.

Tetra Tech Price Performance

NASDAQ TTEK traded down $0.23 during trading on Wednesday, hitting $37.10. 2,679,391 shares of the company’s stock were exchanged, compared to its average volume of 2,032,621. The company has a market cap of $9.69 billion, a PE ratio of 39.89 and a beta of 0.90. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $34.94 and its two-hundred day moving average price is $35.13. Tetra Tech has a fifty-two week low of $27.27 and a fifty-two week high of $38.78.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, December 1st were paid a $0.065 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.26 annualized dividend and a yield of 0.7%. Tetra Tech’s dividend payout ratio (DPR) is 27.96%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TTEK shares. Robert W. Baird lifted their price objective on Tetra Tech from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. National Bank Financial initiated coverage on shares of Tetra Tech in a report on Wednesday, October 8th. They issued an “outperform” rating and a $41.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tetra Tech in a research note on Wednesday, January 21st. Wall Street Zen raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Sunday, November 23rd. Finally, Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Tetra Tech has an average rating of “Moderate Buy” and an average target price of $42.20.

Institutional Investors Weigh In On Tetra Tech

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $225,000. Glenmede Investment Management LP increased its holdings in shares of Tetra Tech by 13.6% in the third quarter. Glenmede Investment Management LP now owns 6,922 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 830 shares during the period. Certuity LLC bought a new position in shares of Tetra Tech in the third quarter worth approximately $275,000. Pitcairn Co. purchased a new stake in Tetra Tech during the second quarter valued at about $221,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Tetra Tech in the second quarter worth approximately $228,000. Institutional investors own 93.89% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech’s multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.

The company’s core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.