Tetra Tech (NASDAQ:TTEK) Issues Q3 2024 Earnings Guidance

Tetra Tech (NASDAQ:TTEK - Get Free Report) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.500-1.550 for the period, compared to the consensus EPS estimate of 1.520. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Tetra Tech also updated its FY 2024 guidance to 6.150-6.250 EPS.

Tetra Tech Stock Performance

Shares of TTEK stock traded down $2.23 during trading hours on Wednesday, hitting $192.49. 390,062 shares of the company were exchanged, compared to its average volume of 265,319. The firm has a fifty day simple moving average of $185.18 and a 200 day simple moving average of $170.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. Tetra Tech has a 52-week low of $132.29 and a 52-week high of $196.48. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.13. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.17 EPS. Tetra Tech's quarterly revenue was down 9.5% compared to the same quarter last year. Research analysts predict that Tetra Tech will post 6.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an outperform rating in a report on Friday, February 2nd. KeyCorp assumed coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an overweight rating and a $191.00 price objective for the company. Finally, Maxim Group raised their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $201.00.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the firm's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company's stock, valued at approximately $2,390,025. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the sale, the director now directly owns 14,485 shares of the company's stock, valued at approximately $2,390,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of Tetra Tech stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now directly owns 37,405 shares of the company's stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock valued at $5,487,673 in the last three months. Company insiders own 0.61% of the company's stock.

About Tetra Tech

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.

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