Q2 2024 EPS Estimates for TETRA Technologies, Inc. Reduced by Analyst (NYSE:TTI)

TETRA Technologies, Inc. (NYSE:TTI) – Equities research analysts at Northland Capmk reduced their Q2 2024 earnings per share estimates for TETRA Technologies in a research report issued on Thursday, May 2nd. Northland Capmk analyst B. Brooks now expects that the oil and gas company will post earnings per share of $0.08 for the quarter, down from their prior estimate of $0.13. The consensus estimate for TETRA Technologies’ current full-year earnings is $0.27 per share. Northland Capmk also issued estimates for TETRA Technologies’ Q3 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.09 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.16 EPS and FY2025 earnings at $0.54 EPS.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a net margin of 3.27% and a return on equity of 25.42%. The business had revenue of $153.13 million for the quarter, compared to analyst estimates of $144.76 million.

A number of other analysts have also issued reports on the company. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of TETRA Technologies in a research note on Wednesday, May 1st. Northland Securities began coverage on shares of TETRA Technologies in a report on Tuesday, February 20th. They issued an “outperform” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, TETRA Technologies currently has an average rating of “Moderate Buy” and an average target price of $7.00.

TETRA Technologies Price Performance

NYSE TTI opened at $3.95 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.44 and a debt-to-equity ratio of 1.23. The company has a market cap of $518.00 million, a PE ratio of 24.69 and a beta of 2.21. TETRA Technologies has a 52 week low of $2.56 and a 52 week high of $6.77. The firm’s 50-day simple moving average is $4.33 and its two-hundred day simple moving average is $4.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. purchased a new stake in TETRA Technologies during the third quarter valued at about $4,416,000. Charles Schwab Investment Management Inc. grew its position in TETRA Technologies by 174.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,128 shares of the oil and gas company’s stock worth $5,864,000 after acquiring an additional 583,854 shares during the last quarter. EAM Investors LLC purchased a new position in TETRA Technologies in the 3rd quarter worth approximately $3,471,000. Algert Global LLC purchased a new position in TETRA Technologies in the 3rd quarter worth approximately $2,860,000. Finally, ClariVest Asset Management LLC bought a new stake in TETRA Technologies in the third quarter valued at approximately $2,217,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment 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.