Tetra Tech, Inc. to Issue Quarterly Dividend of $0.07 (NASDAQ:TTEK)

Key Points

• Tetra Tech, Inc. has declared a quarterly dividend of $0.07 per share, which reflects an annualized amount of $0.26 with a yield of 0.68% for investors.
• The company reported earnings of $0.43 per share for the last quarter, exceeding analysts' expectations of $0.37, with a quarterly revenue of $1.15 billion.
• Despite mixed ratings from analysts, Tetra Tech has a consensus price target of $41.00 and a current market capitalization of $10.09 billion.

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Friday, August 15th will be paid a dividend of 0.065 per share by the industrial products company on Friday, August 29th. This represents a $0.26 dividend on an annualized basis and a yield of 0.68%.

Tetra Tech has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tetra Tech to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 16.8%.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK opened at $38.27 on Thursday. Tetra Tech has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 55.83 and a beta of 0.94. The company's 50 day simple moving average is $36.21 and its 200 day simple moving average is $33.67.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.59 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Tetra Tech will post 1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently bought and sold shares of TTEK. Brighton Jones LLC purchased a new position in Tetra Tech during the fourth quarter worth about $225,000. Goldman Sachs Group Inc. boosted its stake in shares of Tetra Tech by 136.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,658,349 shares of the industrial products company's stock valued at $48,507,000 after purchasing an additional 957,050 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Tetra Tech by 451.6% in the 1st quarter. AQR Capital Management LLC now owns 145,077 shares of the industrial products company's stock valued at $4,204,000 after purchasing an additional 118,774 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Tetra Tech by 136.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company's stock valued at $38,000 after buying an additional 751 shares during the period. 93.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TTEK shares. Robert W. Baird lifted their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp lifted their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Tetra Tech has a consensus rating of "Hold" and a consensus price target of $41.00.

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.

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