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

Tetra Tech, Inc. (NASDAQ:TTEK) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, February 12th.

Tetra Tech has raised its dividend payment by an average of 13.6% per year over the last three years. Tetra Tech has a dividend payout ratio of 13.8% meaning 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 Stock Down 2.9 %

Shares of NASDAQ:TTEK opened at $36.57 on Friday. The business’s 50 day moving average is $40.83 and its 200 day moving average is $44.23. Tetra Tech has a 12-month low of $31.09 and a 12-month high of $51.20. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 38.41 and a beta of 0.90. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.57% and a net margin of 4.81%. On average, sell-side analysts forecast that Tetra Tech will post 1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp reduced their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Finally, Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

About Tetra Tech

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.