Tetra Technologies (TTI) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Tetra Technologies (TTI) closed at $0.55, marking a -1.06% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.64%.
Coming into today, shares of the oil and gas services company had gained 10.94% in the past month. In that same time, the Oils-Energy sector lost 0.65%, while the S&P 500 gained 3.25%.
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. In that report, analysts expect TTI to post earnings of -$0.09 per share. This would mark a year-over-year decline of 350%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Investors might also notice recent changes to analyst estimates for TTI. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TTI is currently sporting a Zacks Rank of #4 (Sell).
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.