Wall Street brokerages expect Tetra Technologies, Inc. (NYSE:TTI) to report earnings of ($0.02) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Tetra Technologies’ earnings. The highest EPS estimate is $0.04 and the lowest is ($0.08). Tetra Technologies reported earnings of ($0.15) per share in the same quarter last year, which suggests a positive year over year growth rate of 86.7%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, August 9th.
On average, analysts expect that Tetra Technologies will report full-year earnings of ($0.20) per share for the current financial year, with EPS estimates ranging from ($0.33) to ($0.10). For the next financial year, analysts anticipate that the firm will report earnings of $0.06 per share, with EPS estimates ranging from ($0.10) to $0.19. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Tetra Technologies.
Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, May 10th. The oil and gas company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $168 million for the quarter, compared to the consensus estimate of $168.64 million. During the same quarter last year, the business posted ($0.16) EPS. Tetra Technologies’s quarterly revenue was down .8% compared to the same quarter last year.
A number of research firms have weighed in on TTI. Royal Bank Of Canada set a $5.00 price objective on Tetra Technologies and gave the company a “hold” rating in a report on Friday, June 16th. Johnson Rice raised Tetra Technologies from an “accumulate” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday, April 13th. Credit Suisse Group raised Tetra Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $5.00 to $5.50 in a report on Tuesday, April 11th. Morgan Stanley decreased their price objective on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Finally, Simmons decreased their price objective on Tetra Technologies from $5.65 to $4.80 and set an “overweight” rating on the stock in a report on Tuesday, March 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $6.08.
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Several hedge funds and other institutional investors have recently made changes to their positions in TTI. Metropolitan Life Insurance Co. NY increased its position in shares of Tetra Technologies by 32.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 81,967 shares of the oil and gas company’s stock valued at $334,000 after buying an additional 20,118 shares during the last quarter. Gotham Asset Management LLC acquired a new position in shares of Tetra Technologies during the first quarter valued at approximately $128,000. State Street Corp increased its position in shares of Tetra Technologies by 20.1% in the first quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock valued at $14,889,000 after buying an additional 613,376 shares during the last quarter. Bank of America Corp DE increased its position in shares of Tetra Technologies by 17.3% in the first quarter. Bank of America Corp DE now owns 1,067,825 shares of the oil and gas company’s stock valued at $4,346,000 after buying an additional 157,837 shares during the last quarter. Finally, KCG Holdings Inc. increased its position in shares of Tetra Technologies by 164.9% in the first quarter. KCG Holdings Inc. now owns 59,266 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 36,889 shares during the last quarter. 93.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tetra Technologies (NYSE TTI) traded up 5.38% during mid-day trading on Tuesday, hitting $2.94. The company had a trading volume of 484,815 shares. The firm’s market cap is $340.90 million. The firm’s 50 day moving average is $3.11 and its 200-day moving average is $4.01. Tetra Technologies has a 12-month low of $2.61 and a 12-month high of $6.77.
Tetra Technologies Company Profile
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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