Brokerages predict that TETRA Technologies, Inc. (NYSE:TTI) will report ($0.02) earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have provided estimates for TETRA Technologies’ earnings, with estimates ranging from ($0.04) to $0.02. TETRA Technologies reported earnings of ($0.04) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is expected to report its next quarterly earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that TETRA Technologies will report full year earnings of ($0.07) per share for the current fiscal year, with EPS estimates ranging from ($0.09) to ($0.03). For the next fiscal year, analysts anticipate that the business will post earnings of $0.11 per share, with EPS estimates ranging from $0.02 to $0.23. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover TETRA Technologies.
TETRA Technologies (NYSE:TTI) last posted its earnings results on Thursday, November 8th. The oil and gas company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). TETRA Technologies had a negative return on equity of 3.15% and a negative net margin of 10.56%. The firm had revenue of $256.90 million for the quarter, compared to analyst estimates of $261.69 million. During the same quarter last year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis.
A number of equities analysts recently issued reports on TTI shares. ValuEngine lowered TETRA Technologies from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Credit Suisse Group lowered their price target on TETRA Technologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. TheStreet lowered TETRA Technologies from a “c-” rating to a “d” rating in a report on Tuesday, November 13th. Raymond James lowered TETRA Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, December 13th. Finally, B. Riley set a $8.00 price target on TETRA Technologies and gave the stock a “buy” rating in a report on Sunday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $6.10.
In other TETRA Technologies news, CEO Stuart M. Brightman acquired 100,000 shares of the stock in a transaction on Friday, December 28th. The shares were bought at an average price of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the chief executive officer now owns 1,258,163 shares of the company’s stock, valued at $1,774,009.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.69% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TTI. BlackRock Inc. boosted its holdings in TETRA Technologies by 14.3% in the 2nd quarter. BlackRock Inc. now owns 17,933,646 shares of the oil and gas company’s stock valued at $79,804,000 after purchasing an additional 2,246,857 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of TETRA Technologies by 38.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,943,200 shares of the oil and gas company’s stock valued at $8,647,000 after acquiring an additional 541,900 shares during the period. RK Capital Management LLC lifted its position in shares of TETRA Technologies by 58.4% during the 3rd quarter. RK Capital Management LLC now owns 1,290,969 shares of the oil and gas company’s stock valued at $5,822,000 after acquiring an additional 475,800 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of TETRA Technologies during the 3rd quarter valued at approximately $2,053,000. Finally, Morgan Stanley lifted its position in shares of TETRA Technologies by 70.1% during the 3rd quarter. Morgan Stanley now owns 804,926 shares of the oil and gas company’s stock valued at $3,630,000 after acquiring an additional 331,784 shares during the period. 83.91% of the stock is currently owned by institutional investors.
NYSE TTI opened at $2.22 on Tuesday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.45 and a current ratio of 2.27. TETRA Technologies has a 52-week low of $1.29 and a 52-week high of $5.11. The stock has a market cap of $251.42 million, a P/E ratio of -10.57, a P/E/G ratio of 0.64 and a beta of 1.49.
TETRA Technologies Company Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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.
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