TIC Solutions (NYSE:TIC) Posts Earnings Results, Misses Estimates By $0.29 EPS

TIC Solutions (NYSE:TIC) announced its quarterly earnings results on Thursday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.29), Zacks reports. The company had revenue of $508.27 million for the quarter, compared to the consensus estimate of $531.05 million.

TIC Solutions Price Performance

TIC stock traded down $0.18 during mid-day trading on Friday, reaching $7.51. The company had a trading volume of 3,192,845 shares, compared to its average volume of 2,470,419. TIC Solutions has a 12 month low of $6.73 and a 12 month high of $14.94. The company has a market capitalization of $1.66 billion and a P/E ratio of -17.88.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 price objective (down from $14.00) on shares of TIC Solutions in a report on Friday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.00.

TIC Solutions Company Profile

TIC Solutions, Inc provides critical asset integrity services in North America. The company offers testing, inspection, certification, and compliance (TICC) services, including various nondestructive testing (NDT) techniques, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. Its NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, prevent costly outages, failures, and accidents, and meet regulatory requirements without damaging the asset or component.