Equities analysts predict that TETRA Technologies, Inc. (NYSE:TTI) will report sales of $254.76 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for TETRA Technologies’ earnings. The lowest sales estimate is $245.50 million and the highest is $262.66 million. TETRA Technologies reported sales of $199.38 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.8%. The company is scheduled to report its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that TETRA Technologies will report full year sales of $1.09 billion for the current fiscal year, with estimates ranging from $1.06 billion to $1.12 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.17 billion, with estimates ranging from $1.10 billion to $1.20 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for TETRA Technologies.
TETRA Technologies (NYSE:TTI) last posted its quarterly earnings data on Thursday, February 28th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. TETRA Technologies had a negative net margin of 6.44% and a negative return on equity of 2.20%. The company had revenue of $282.47 million during the quarter, compared to the consensus estimate of $262.53 million.
A number of equities analysts recently commented on the stock. Johnson Rice cut shares of TETRA Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. ValuEngine upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $6.10.
Several institutional investors and hedge funds have recently made changes to their positions in TTI. BlackRock Inc. increased its position in TETRA Technologies by 1.2% during the 4th quarter. BlackRock Inc. now owns 18,696,838 shares of the oil and gas company’s stock valued at $31,410,000 after purchasing an additional 218,452 shares during the period. Vanguard Group Inc. increased its holdings in TETRA Technologies by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,019,603 shares of the oil and gas company’s stock worth $45,188,000 after acquiring an additional 160,910 shares in the last quarter. Vanguard Group Inc increased its holdings in TETRA Technologies by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 10,019,603 shares of the oil and gas company’s stock worth $45,188,000 after acquiring an additional 160,910 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in TETRA Technologies by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,646,508 shares of the oil and gas company’s stock worth $34,485,000 after acquiring an additional 63,265 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in TETRA Technologies during the 4th quarter worth $5,731,000. 83.21% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:TTI traded down $0.10 during trading hours on Friday, reaching $2.42. The company’s stock had a trading volume of 8,639 shares, compared to its average volume of 670,808. The stock has a market cap of $315.33 million, a PE ratio of -48.80 and a beta of 1.59. TETRA Technologies has a 1 year low of $1.29 and a 1 year high of $5.11. The company has a quick ratio of 1.28, a current ratio of 2.00 and a debt-to-equity ratio of 2.61.
TETRA Technologies Company Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids segment 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.
Read More: What is the Ex-Dividend Date in Investing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TETRA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TETRA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.