Tetra Tech, Inc. (NASDAQ:TTEK) Announces $0.06 Quarterly Dividend

Tetra Tech, Inc. (NASDAQ:TTEK) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Wednesday, February 12th will be paid a dividend of 0.058 per share by the industrial products company on Wednesday, February 26th. This represents a $0.23 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, February 12th.

Tetra Tech has increased its dividend payment by an average of 13.6% per year over the last three years. Tetra Tech has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tetra Tech to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 13.8%.

Tetra Tech Price Performance

Tetra Tech stock traded down $0.85 during midday trading on Thursday, reaching $36.82. 16,134,103 shares of the stock were exchanged, compared to its average volume of 3,167,338. The company’s fifty day moving average is $40.91 and its 200-day moving average is $44.26. The firm has a market cap of $9.87 billion, a PE ratio of 29.89 and a beta of 0.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech has a 52 week low of $31.09 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 20.64% and a net margin of 6.41%. On average, sell-side analysts forecast that Tetra Tech will post 1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

TTEK has been the topic of a number of research analyst reports. KeyCorp decreased their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.32.

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.