Brokers Issue Forecasts for Tetra Technologies, Inc.’s Q3 2018 Earnings (TTI)
Tetra Technologies, Inc. (NYSE:TTI) – Equities research analysts at Capital One Financial Corporation lifted their Q3 2018 EPS estimates for Tetra Technologies in a research report issued to clients and investors on Thursday. Capital One Financial Corporation analyst L. Lemoine now expects that the oil and gas company will earn $0.06 per share for the quarter, up from their previous estimate of $0.05. Capital One Financial Corporation also issued estimates for Tetra Technologies’ FY2019 earnings at $0.12 EPS.
TTI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Tetra Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Royal Bank Of Canada reissued a “hold” rating and set a $3.25 price objective on shares of Tetra Technologies in a research note on Thursday, July 20th. Loop Capital raised their price objective on shares of Tetra Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday. BidaskClub cut shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Wells Fargo & Company raised their price objective on shares of Tetra Technologies from $3.50 to $5.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Tetra Technologies presently has a consensus rating of “Buy” and a consensus price target of $5.09.
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Shares of Tetra Technologies (NYSE TTI) opened at $3.64 on Monday. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $5.98. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.38 and a current ratio of 2.24.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. Tetra Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The company had revenue of $216.36 million during the quarter, compared to the consensus estimate of $218.65 million. During the same period last year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was up 22.5% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in TTI. Formula Growth Ltd. grew its stake in Tetra Technologies by 51.9% in the 2nd quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock worth $10,495,000 after acquiring an additional 1,284,629 shares during the period. Vanguard Group Inc. grew its stake in Tetra Technologies by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock worth $40,573,000 after acquiring an additional 1,068,050 shares during the period. Dimensional Fund Advisors LP grew its stake in Tetra Technologies by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock worth $13,709,000 after acquiring an additional 774,482 shares during the period. State Street Corp grew its stake in Tetra Technologies by 20.1% in the 1st quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock worth $14,889,000 after acquiring an additional 613,376 shares during the period. Finally, Boston Partners grew its stake in Tetra Technologies by 8.7% in the 3rd quarter. Boston Partners now owns 5,178,124 shares of the oil and gas company’s stock worth $14,809,000 after acquiring an additional 415,120 shares during the period. 91.18% of the stock is owned by hedge funds and other institutional investors.
About Tetra Technologies
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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