TETRA Technologies (NYSE:TTI) Posts Earnings Results, Hits Expectations

TETRA Technologies (NYSE:TTI - Get Free Report) released its earnings results on Tuesday. The oil and gas company reported $0.03 EPS for the quarter, hitting analysts' consensus estimates of $0.03, Briefing.com reports. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. TETRA Technologies's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS.

TETRA Technologies Price Performance

TTI traded up $0.67 on Wednesday, reaching $3.62. The company had a trading volume of 4,722,714 shares, compared to its average volume of 1,338,568. TETRA Technologies has a one year low of $2.68 and a one year high of $5.12. The company has a market capitalization of $475.85 million, a P/E ratio of 43.26 and a beta of 2.04. The company has a fifty day moving average of $3.11 and a 200-day moving average of $3.47. The company has a current ratio of 2.41, a quick ratio of 1.72 and a debt-to-equity ratio of 1.17.

Analysts Set New Price Targets

A number of equities analysts have commented on TTI shares. EF Hutton Acquisition Co. I upgraded TETRA Technologies to a "strong-buy" rating in a research note on Monday, October 21st. StockNews.com upgraded shares of TETRA Technologies from a "sell" rating to a "hold" rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, TETRA Technologies has an average 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.