Tetra Tech, Inc. (TTEK - Free Report) yesterday communicated about securing a contract from the U.S. Naval Facilities Engineering Command for providing architect and engineering services. The multiple-award contract has been valued at $150 million.
Per the contract, fire protection, fuel storage and distribution, spill containment, and emergency backup power systems at the U.S. Navy’s facilities worldwide will be modernized by Tetra Tech. The company is likely to leverage its advanced analytics and technology to fulfill the contract requirements and also support sustainable infrastructure measures of the U.S. Navy.
We believe that the aforementioned contract will help Tetra Tech to strengthen its existing business with the federal agency. Notably, the company’s shares gained 1.3% yesterday, ending the trading session at $125.19.
Order wins, especially from the U.S. federal government agencies or related institutions, are likely to benefit Tetra Tech in the quarters ahead. At the end of the fourth quarter of fiscal 2020 (ended Sep 27, 2020), the company had a solid backlog of $3,239.3 million, reflecting growth of 5.6% from the third quarter of fiscal 2020.
Of several contracts, Tetra Tech secured a $209-million environmental services contract from the U.S. Army Corps of Engineers (“USACE”) in October 2020. In the same month, the company received a $24-million contract from the U.S. Agency for International Development (“USAID”) for the management of water resources.
In September 2020, the company received a $68-million contract from the U.S. Environmental Protection Agency (“EPA”) for providing extensive scientific and technical support services.
For fiscal 2021 (ending September 2021), Tetra Tech anticipates net revenues from the U.S. federal clients to grow 5%. The upside is likely to be driven by enhanced analytics used in the water and environmental programs.
Zacks Rank, Price Performance and Earnings Estimates
Tetra Tech, with a $6.7-billion market capitalization, currently carries a Zacks Rank #4 (Sell). A diversified business structure, healthy backlog level and sound business from federal clients are likely to aid the company’s performance. However, the pandemic’s impact on its international business, especially in the U.K. and Australia, might play spoilsport.
In the past three months, Tetra Tech’s share price has increased 30.5% compared with the industry’s growth of 15.9%.
In the past 30 days, the company’s earnings estimates for the first quarter of fiscal 2021 (ending December 2020) have been lowered by 1.2% to 81 cents per share. Also, during the same timeframe, the consensus estimate for fiscal 2021 (ending September 2021) decreased 0.3% to $3.37, while that for fiscal 2022 (ending September 2022) has been stable at $3.77.
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Tetra Tech, Inc. (TTEK - Free Report) yesterday communicated about securing a contract from the U.S. Naval Facilities Engineering Command for providing architect and engineering services. The multiple-award contract has been valued at $150 million.
Per the contract, fire protection, fuel storage and distribution, spill containment, and emergency backup power systems at the U.S. Navy’s facilities worldwide will be modernized by Tetra Tech. The company is likely to leverage its advanced analytics and technology to fulfill the contract requirements and also support sustainable infrastructure measures of the U.S. Navy.
We believe that the aforementioned contract will help Tetra Tech to strengthen its existing business with the federal agency. Notably, the company’s shares gained 1.3% yesterday, ending the trading session at $125.19.
Order wins, especially from the U.S. federal government agencies or related institutions, are likely to benefit Tetra Tech in the quarters ahead. At the end of the fourth quarter of fiscal 2020 (ended Sep 27, 2020), the company had a solid backlog of $3,239.3 million, reflecting growth of 5.6% from the third quarter of fiscal 2020.
Of several contracts, Tetra Tech secured a $209-million environmental services contract from the U.S. Army Corps of Engineers (“USACE”) in October 2020. In the same month, the company received a $24-million contract from the U.S. Agency for International Development (“USAID”) for the management of water resources.
In September 2020, the company received a $68-million contract from the U.S. Environmental Protection Agency (“EPA”) for providing extensive scientific and technical support services.
For fiscal 2021 (ending September 2021), Tetra Tech anticipates net revenues from the U.S. federal clients to grow 5%. The upside is likely to be driven by enhanced analytics used in the water and environmental programs.
Zacks Rank, Price Performance and Earnings Estimates
Tetra Tech, with a $6.7-billion market capitalization, currently carries a Zacks Rank #4 (Sell). A diversified business structure, healthy backlog level and sound business from federal clients are likely to aid the company’s performance. However, the pandemic’s impact on its international business, especially in the U.K. and Australia, might play spoilsport.
In the past three months, Tetra Tech’s share price has increased 30.5% compared with the industry’s growth of 15.9%.
In the past 30 days, the company’s earnings estimates for the first quarter of fiscal 2021 (ending December 2020) have been lowered by 1.2% to 81 cents per share. Also, during the same timeframe, the consensus estimate for fiscal 2021 (ending September 2021) decreased 0.3% to $3.37, while that for fiscal 2022 (ending September 2022) has been stable at $3.77.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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