Wall Street analysts predict that TETRA Technologies, Inc. (NYSE:TTI) will post $221.29 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for TETRA Technologies’ earnings. The highest sales estimate is $246.50 million and the lowest is $205.70 million. TETRA Technologies posted sales of $168.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 31.7%. The firm is scheduled to announce its next earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that TETRA Technologies will report full year sales of $1.03 billion for the current year, with estimates ranging from $936.86 million to $1.09 billion. For the next year, analysts forecast that the company will post sales of $1.13 billion per share, with estimates ranging from $1.02 billion to $1.21 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for TETRA Technologies.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $227.60 million during the quarter, compared to analyst estimates of $211.40 million. TETRA Technologies had a negative net margin of 4.76% and a negative return on equity of 4.20%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.16) earnings per share.
A number of equities analysts have recently commented on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $4.20 target price (up from $4.00) on shares of TETRA Technologies in a report on Thursday, March 1st. ValuEngine lowered shares of TETRA Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Piper Jaffray set a $5.00 price objective on shares of TETRA Technologies and gave the company a “buy” rating in a research report on Friday, December 29th. Zacks Investment Research lowered shares of TETRA Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, Howard Weil lowered shares of TETRA Technologies from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $4.65.
Shares of TETRA Technologies stock opened at $3.66 on Thursday. The firm has a market capitalization of $409.08, a PE ratio of -17.43, a price-to-earnings-growth ratio of 5.62 and a beta of 0.69. TETRA Technologies has a 12 month low of $1.85 and a 12 month high of $4.54. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.26 and a current ratio of 1.95.
In related news, VP Elisabeth K. Evans bought 7,600 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were bought at an average cost of $3.90 per share, for a total transaction of $29,640.00. Following the transaction, the vice president now owns 63,342 shares of the company’s stock, valued at $247,033.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.69% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TTI. Millennium Management LLC raised its stake in shares of TETRA Technologies by 303.6% during the 4th quarter. Millennium Management LLC now owns 4,161,247 shares of the oil and gas company’s stock worth $17,769,000 after buying an additional 3,130,315 shares during the last quarter. Huber Capital Management LLC acquired a new position in shares of TETRA Technologies during the 4th quarter worth $5,439,000. Renaissance Technologies LLC raised its stake in shares of TETRA Technologies by 3,240.3% during the 4th quarter. Renaissance Technologies LLC now owns 788,300 shares of the oil and gas company’s stock worth $3,366,000 after buying an additional 764,700 shares during the last quarter. BlackRock Inc. raised its stake in shares of TETRA Technologies by 3.3% during the 4th quarter. BlackRock Inc. now owns 15,089,690 shares of the oil and gas company’s stock worth $64,433,000 after buying an additional 483,137 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of TETRA Technologies by 12.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,052,924 shares of the oil and gas company’s stock worth $17,306,000 after buying an additional 435,331 shares during the last quarter. Institutional investors own 90.00% of the company’s stock.
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About TETRA Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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