Tetra Technologies (TTI) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

Tetra Technologies (TTI) closed the most recent trading day at $0.56, moving -1.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.28%.

Prior to today's trading, shares of the oil and gas services company had gained 4.7% over the past month. This has outpaced the Oils-Energy sector's loss of 6.08% and the S&P 500's gain of 3.82% in that time.

Wall Street will be looking for positivity from TTI as it approaches its next earnings report date. This is expected to be November 3, 2020. On that day, TTI is projected to report earnings of -$0.09 per share, which would represent a year-over-year decline of 350%. Our most recent consensus estimate is calling for quarterly revenue of $169.80 million, down 30.96% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.24 per share and revenue of $749.60 million, which would represent changes of -380% and -27.78%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for TTI. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TTI is holding a Zacks Rank of #4 (Sell) right now.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 120, which puts it in the top 48% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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