Q3 2024 EPS Estimates for Tetra Tech, Inc. (NASDAQ:TTEK) Boosted by William Blair

Tetra Tech, Inc. (NASDAQ:TTEK) – Analysts at William Blair upped their Q3 2024 earnings per share estimates for shares of Tetra Tech in a note issued to investors on Thursday, May 2nd. William Blair analyst T. Mulrooney now anticipates that the industrial products company will post earnings per share of $1.53 for the quarter, up from their prior estimate of $1.51. The consensus estimate for Tetra Tech’s current full-year earnings is $6.20 per share. William Blair also issued estimates for Tetra Tech’s Q4 2024 earnings at $1.86 EPS, FY2024 earnings at $6.20 EPS and FY2025 earnings at $7.22 EPS.

A number of other analysts have also recently commented on TTEK. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, May 2nd. Royal Bank of Canada raised their target price on Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird lifted their target price on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, KeyCorp increased their target price on shares of Tetra Tech from $209.00 to $219.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.40.

Tetra Tech Trading Up 0.4 %

Shares of NASDAQ:TTEK opened at $212.88 on Monday. The business’s 50 day moving average price is $188.08 and its 200-day moving average price is $172.51. Tetra Tech has a 1 year low of $132.29 and a 1 year high of $216.24. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 43.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The business’s revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TTEK. Sei Investments Co. increased its position in shares of Tetra Tech by 3.2% during the first quarter. Sei Investments Co. now owns 97,745 shares of the industrial products company’s stock valued at $18,054,000 after acquiring an additional 3,049 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tetra Tech during the 1st quarter worth approximately $3,765,000. Oppenheimer & Co. Inc. increased its holdings in Tetra Tech by 4.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 8,547 shares of the industrial products company’s stock valued at $1,579,000 after purchasing an additional 369 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Tetra Tech by 88.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,384 shares of the industrial products company’s stock valued at $2,288,000 after purchasing an additional 5,819 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in Tetra Tech by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 46,793 shares of the industrial products company’s stock worth $8,643,000 after purchasing an additional 796 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the sale, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the transaction, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the sale, the director now directly owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders have sold 16,595 shares of company stock valued at $2,925,482 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a dividend of $0.29 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is presently 21.05%.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.