Analysts expect TETRA Technologies, Inc. (NYSE:TTI) to report $219.30 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for TETRA Technologies’ earnings, with the highest sales estimate coming in at $239.00 million and the lowest estimate coming in at $203.10 million. TETRA Technologies posted sales of $173.22 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.6%. The company is expected to report its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that TETRA Technologies will report full year sales of $219.30 million for the current year, with estimates ranging from $796.98 million to $831.70 million. For the next financial year, analysts anticipate that the company will report sales of $957.13 million per share, with estimates ranging from $909.95 million to $1.04 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow TETRA Technologies.
TETRA Technologies (NYSE:TTI) last issued its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. TETRA Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The firm had revenue of $216.36 million for the quarter, compared to analysts’ expectations of $218.65 million. During the same quarter last year, the company posted ($0.05) earnings per share. TETRA Technologies’s revenue was up 22.5% on a year-over-year basis.
A number of brokerages have issued reports on TTI. Loop Capital raised their target price on shares of TETRA Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 10th. ValuEngine raised shares of TETRA Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 14th. Royal Bank of Canada reissued a “hold” rating on shares of TETRA Technologies in a report on Sunday, November 12th. Credit Suisse Group lifted their price target on TETRA Technologies from $3.50 to $4.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Wells Fargo & Company lifted their price target on TETRA Technologies from $3.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $4.73.
A number of large investors have recently made changes to their positions in the stock. Algert Global LLC raised its holdings in TETRA Technologies by 45.4% during the third quarter. Algert Global LLC now owns 205,081 shares of the oil and gas company’s stock worth $587,000 after purchasing an additional 64,041 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in TETRA Technologies by 5.1% during the third quarter. Neuberger Berman Group LLC now owns 3,123,688 shares of the oil and gas company’s stock worth $8,934,000 after purchasing an additional 150,586 shares in the last quarter. California Public Employees Retirement System raised its holdings in TETRA Technologies by 77.2% during the third quarter. California Public Employees Retirement System now owns 319,526 shares of the oil and gas company’s stock worth $914,000 after purchasing an additional 139,226 shares in the last quarter. Formula Growth Ltd. raised its holdings in TETRA Technologies by 24.6% during the third quarter. Formula Growth Ltd. now owns 4,687,461 shares of the oil and gas company’s stock worth $13,406,000 after purchasing an additional 925,655 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in TETRA Technologies by 10.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,013,636 shares of the oil and gas company’s stock worth $2,899,000 after purchasing an additional 96,023 shares in the last quarter. 90.55% of the stock is currently owned by hedge funds and other institutional investors.
TETRA Technologies (TTI) opened at $4.28 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.24 and a debt-to-equity ratio of 1.63. TETRA Technologies has a twelve month low of $1.85 and a twelve month high of $5.28.
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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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