$221.82 Million in Sales Expected for TETRA Technologies, Inc. (TTI) This Quarter
Wall Street brokerages expect that TETRA Technologies, Inc. (NYSE:TTI) will report $221.82 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for TETRA Technologies’ earnings, with estimates ranging from $209.20 million to $246.50 million. TETRA Technologies reported sales of $168.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 32%. The firm is expected to announce its next quarterly earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that TETRA Technologies will report full year sales of $221.82 million for the current fiscal year, with estimates ranging from $945.02 million to $1.04 billion. For the next fiscal year, analysts expect that the business will post sales of $1.09 billion per share, with estimates ranging from $997.73 million to $1.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover TETRA Technologies.
TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). TETRA Technologies had a negative net margin of 4.76% and a negative return on equity of 4.20%. The business had revenue of $227.60 million during the quarter, compared to analyst estimates of $211.40 million. During the same period last year, the firm posted ($0.16) earnings per share. TETRA Technologies’s quarterly revenue was up 31.4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Energy Opportunities Capital Management LLC bought a new stake in TETRA Technologies during the fourth quarter worth $100,000. Stone Ridge Asset Management LLC bought a new stake in TETRA Technologies during the fourth quarter worth $107,000. JPMorgan Chase & Co. grew its holdings in TETRA Technologies by 3,012.3% during the second quarter. JPMorgan Chase & Co. now owns 46,187 shares of the oil and gas company’s stock worth $129,000 after buying an additional 44,703 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in TETRA Technologies by 326.0% during the second quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock worth $134,000 after buying an additional 36,687 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in TETRA Technologies during the fourth quarter worth $134,000. Hedge funds and other institutional investors own 88.97% of the company’s stock.
Shares of TETRA Technologies (TTI) traded up $0.15 on Tuesday, reaching $3.75. The company’s stock had a trading volume of 1,089,834 shares, compared to its average volume of 866,284. TETRA Technologies has a 12-month low of $1.85 and a 12-month high of $4.54. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.38 and a current ratio of 1.96. The firm has a market capitalization of $434.58, a price-to-earnings ratio of -11.03, a PEG ratio of 3.58 and a beta of 0.79.
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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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