Wall Street analysts predict that Tetra Technologies, Inc. (NYSE:TTI) will announce earnings of ($0.01) per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Tetra Technologies’ earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at $0.04. Tetra Technologies reported earnings of ($0.15) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 93.3%. The business is expected to issue its next earnings report before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Tetra Technologies will report full year earnings of ($0.20) per share for the current fiscal year, with EPS estimates ranging from ($0.33) to ($0.10). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.02) per share, with EPS estimates ranging from ($0.25) to $0.19. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Tetra Technologies.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Wednesday, May 10th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. Tetra Technologies had a negative return on equity of 11.46% and a negative net margin of 10.90%. The business had revenue of $168 million for the quarter, compared to the consensus estimate of $168.64 million. During the same period last year, the business posted ($0.16) EPS. The business’s revenue was down .8% compared to the same quarter last year.
A number of analysts have weighed in on the company. Royal Bank Of Canada restated a “hold” rating and issued a $3.25 price target on shares of Tetra Technologies in a research note on Thursday. Simmons raised their price target on Tetra Technologies from $4.80 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, April 11th. Zacks Investment Research cut Tetra Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Morgan Stanley cut their price target on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 21st. Finally, Johnson Rice upgraded Tetra Technologies from an “accumulate” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Thursday, April 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $5.90.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Tetra Technologies by 107.2% in the first quarter. FMR LLC now owns 12,007,494 shares of the oil and gas company’s stock worth $48,870,000 after buying an additional 6,213,696 shares in the last quarter. Norges Bank bought a new position in Tetra Technologies during the fourth quarter worth about $15,354,000. Vanguard Group Inc. raised its position in Tetra Technologies by 12.0% in the first quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock worth $40,573,000 after buying an additional 1,068,050 shares in the last quarter. Boston Partners raised its position in Tetra Technologies by 20.6% in the first quarter. Boston Partners now owns 4,787,164 shares of the oil and gas company’s stock worth $19,483,000 after buying an additional 818,520 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock worth $16,230,000 after buying an additional 753,964 shares in the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Technologies (NYSE TTI) opened at 2.82 on Monday. Tetra Technologies has a 52 week low of $2.49 and a 52 week high of $6.77. The stock’s market capitalization is $326.98 million. The company’s 50-day moving average price is $2.92 and its 200 day moving average price is $3.80.
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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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