KeyCorp Weighs in on Tetra Tech, Inc.’s FY2019 Earnings (TTEK)
Tetra Tech, Inc. (NASDAQ:TTEK) – KeyCorp issued their FY2019 earnings per share estimates for Tetra Tech in a research report issued on Monday, November 12th, according to Zacks Investment Research. KeyCorp analyst T. Afzal forecasts that the industrial products company will post earnings of $2.90 per share for the year. KeyCorp also issued estimates for Tetra Tech’s FY2020 earnings at $3.06 EPS.
A number of other equities analysts also recently weighed in on the stock. Boenning Scattergood reaffirmed a “buy” rating and set a $80.00 price target on shares of Tetra Tech in a research note on Thursday. BidaskClub downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Tuesday. Maxim Group set a $87.00 target price on shares of Tetra Tech and gave the company a “buy” rating in a research note on Monday, November 19th. Zacks Investment Research reissued a “hold” rating on shares of Tetra Tech in a research note on Saturday, November 17th. Finally, Robert W. Baird raised their target price on shares of Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.86.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The company had revenue of $563.67 million for the quarter, compared to the consensus estimate of $571.33 million. Tetra Tech had a net margin of 4.62% and a return on equity of 15.80%. Tetra Tech’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in TTEK. LPL Financial LLC purchased a new stake in Tetra Tech during the 1st quarter worth $494,000. Fisher Asset Management LLC increased its stake in Tetra Tech by 23.7% during the 2nd quarter. Fisher Asset Management LLC now owns 7,315 shares of the industrial products company’s stock worth $428,000 after buying an additional 1,400 shares during the period. Amalgamated Bank increased its stake in Tetra Tech by 11.8% during the 2nd quarter. Amalgamated Bank now owns 8,992 shares of the industrial products company’s stock worth $526,000 after buying an additional 951 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Tetra Tech by 80.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock worth $124,000 after buying an additional 2,000 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in Tetra Tech during the 2nd quarter worth $237,000. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Brian N. Carter sold 8,215 shares of Tetra Tech stock in a transaction on Monday, November 26th. The shares were sold at an average price of $62.28, for a total transaction of $511,630.20. Following the sale, the senior vice president now owns 7,430 shares of the company’s stock, valued at approximately $462,740.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirsten M. Volpi sold 1,200 shares of Tetra Tech stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $66.94, for a total transaction of $80,328.00. Following the sale, the director now directly owns 8,801 shares in the company, valued at approximately $589,138.94. The disclosure for this sale can be found here. In the last three months, insiders sold 61,034 shares of company stock worth $3,958,744. Insiders own 3.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 29th. Tetra Tech’s dividend payout ratio is presently 18.18%.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI 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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