Zacks: Brokerages Anticipate TETRA Technologies, Inc. (TTI) Will Announce Quarterly Sales of $260.53 Million

Wall Street analysts forecast that TETRA Technologies, Inc. (NYSE:TTI) will post $260.53 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for TETRA Technologies’ earnings. The lowest sales estimate is $254.10 million and the highest is $270.32 million. TETRA Technologies posted sales of $216.36 million during the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The company is expected to issue its next quarterly earnings report on Thursday, November 8th.

On average, analysts expect that TETRA Technologies will report full year sales of $995.29 million for the current year, with estimates ranging from $985.40 million to $1.00 billion. For the next fiscal year, analysts expect that the business will report sales of $1.11 billion, with estimates ranging from $1.08 billion to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for TETRA Technologies.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Thursday, August 9th. The oil and gas company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The firm had revenue of $260.10 million for the quarter, compared to the consensus estimate of $237.95 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was up 44.6% on a year-over-year basis.

A number of equities research analysts have issued reports on TTI shares. Credit Suisse Group upped their target price on TETRA Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Monday, August 13th. B. Riley set a $8.00 target price on TETRA Technologies and gave the stock a “buy” rating in a research report on Friday, August 10th. Wells Fargo & Co upped their target price on TETRA Technologies from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Zacks Investment Research cut TETRA Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Stifel Nicolaus started coverage on TETRA Technologies in a research report on Monday, September 10th. They set a “buy” rating and a $6.50 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.61.

NYSE:TTI traded up $0.21 during mid-day trading on Friday, reaching $4.71. The stock had a trading volume of 26,557 shares, compared to its average volume of 502,111. TETRA Technologies has a fifty-two week low of $2.55 and a fifty-two week high of $5.11. The company has a market capitalization of $551.73 million, a P/E ratio of -22.10, a P/E/G ratio of 2.20 and a beta of 0.88. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.66 and a current ratio of 2.45.

In other TETRA Technologies news, Director Thomas R. Bates, Jr. acquired 10,000 shares of TETRA Technologies stock in a transaction dated Wednesday, September 19th. The stock was bought at an average cost of $4.38 per share, with a total value of $43,800.00. Following the completion of the transaction, the director now owns 143,044 shares of the company’s stock, valued at $626,532.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James H. Funke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $5.01, for a total value of $175,350.00. The disclosure for this sale can be found here. 5.69% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of TETRA Technologies by 8.5% in the first quarter. Legal & General Group Plc now owns 230,954 shares of the oil and gas company’s stock valued at $860,000 after purchasing an additional 18,039 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of TETRA Technologies by 10.7% in the first quarter. Principal Financial Group Inc. now owns 978,888 shares of the oil and gas company’s stock valued at $3,671,000 after purchasing an additional 94,894 shares in the last quarter. Spark Investment Management LLC raised its stake in shares of TETRA Technologies by 164.9% in the second quarter. Spark Investment Management LLC now owns 220,400 shares of the oil and gas company’s stock valued at $980,000 after purchasing an additional 137,200 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of TETRA Technologies in the second quarter valued at $1,800,000. Finally, Wells Fargo & Company MN raised its stake in shares of TETRA Technologies by 11.9% in the second quarter. Wells Fargo & Company MN now owns 4,914,080 shares of the oil and gas company’s stock valued at $21,867,000 after purchasing an additional 522,495 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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.

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