TETRA Technologies (NYSE:TTI – Get Free Report) posted its quarterly earnings results on Tuesday. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03, Briefing.com reports. TETRA Technologies had a net margin of 1.61% and a return on equity of 18.84%. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $156.43 million. During the same period in the previous year, the business posted $0.07 earnings per share. TETRA Technologies’s quarterly revenue was down 6.5% on a year-over-year basis.
TETRA Technologies Stock Up 22.0 %
Shares of TTI traded up $0.65 during midday trading on Wednesday, hitting $3.60. The company had a trading volume of 3,108,717 shares, compared to its average volume of 1,330,882. The stock has a market cap of $473.22 million, a price-to-earnings ratio of 43.26 and a beta of 2.04. The company’s 50 day moving average price is $3.11 and its 200 day moving average price is $3.47. The company has a quick ratio of 1.72, a current ratio of 2.41 and a debt-to-equity ratio of 1.17. TETRA Technologies has a 52 week low of $2.68 and a 52 week high of $5.12.
Analyst Ratings Changes
A number of brokerages have weighed in on TTI. StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $7.00.
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.
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