We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tetra Tech (TTEK) Secures $36M Contract From Federal Client
Read MoreHide Full Article
Tetra Tech, Inc. (TTEK - Free Report) yesterday communicated that it secured a $36-million contract from the U.S. Army Corps of Engineers (“USACE”). The contract is applicable for 6 years.
Notably, the contract is the third deal awarded to the company by the USACE since the beginning of calendar 2021.
Inside the Headlines
Per the $36-million multiple-award contract, Tetra Tech’s prime responsibility will be the assessment and management of flood risks. Also, the company’s biologists, engineers and planners will have to work for the reduction of coastal erosion and the restoration of ecosystems.
To be more specific, its professionals will carry out studies for site characterization and biological surveys. Also, they will engage in the development of engineering designs.
We believe that the aforementioned contract will help Tetra Tech strengthen its existing business with the federal agency.
Order wins, especially from the U.S. federal government agencies or related institutions, are likely to benefit the company in the quarters ahead. At the end of the first quarter of fiscal 2021 (ended Dec 27, 2020), the company had a solid backlog of $3,188.1 million.
Of several contracts, Tetra Tech secured a $49-million environmental services contract from USACE in April 2021. In the same month, the company received a $12-million contract, related to energy sustainability activities, from the U.S. Agency for International Development (“USAID”).
For fiscal 2021 (ending September 2021), Tetra Tech anticipates net revenues from the U.S. federal clients to gain from enhanced analytics used in the water and environmental programs. It predicts net revenues of $2.40-$2.55 billion for the year and adjusted earnings of $3.45-$3.60 per share.
Zacks Rank, Price Performance and Earnings Estimates
Tetra Tech, with a $7.7-billion market capitalization, currently carries a Zacks Rank #2 (Buy). The company is poised to benefit from a healthy backlog level, sound business from federal clients and a diversified business structure.
In the past three months, Tetra Tech’s share price has increased 2% compared with the industry’s growth of 3.9%.
In the past 60 days, the company’s earnings estimates for the second quarter of fiscal 2021 (ended March 2020, results are awaited) have been unchanged at 75 cents per share. Also, during the same timeframe, the consensus estimate for fiscal 2021 (ending September 2021) at $3.59 reflected no change, while that for fiscal 2022 (ending September 2022) increased 0.3% to $3.87.
In the past 60 days, earnings estimates for EnPro Industries and Energy Recovery have been unchanged for the current year, while that for Sharps Compliance has improved. Further, the earnings surprise for the last reported quarter was 143.14% for EnPro Industries, 20% for Energy Recovery and 16.67% for Sharps Compliance.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Tetra Tech (TTEK) Secures $36M Contract From Federal Client
Tetra Tech, Inc. (TTEK - Free Report) yesterday communicated that it secured a $36-million contract from the U.S. Army Corps of Engineers (“USACE”). The contract is applicable for 6 years.
Notably, the contract is the third deal awarded to the company by the USACE since the beginning of calendar 2021.
Inside the Headlines
Per the $36-million multiple-award contract, Tetra Tech’s prime responsibility will be the assessment and management of flood risks. Also, the company’s biologists, engineers and planners will have to work for the reduction of coastal erosion and the restoration of ecosystems.
To be more specific, its professionals will carry out studies for site characterization and biological surveys. Also, they will engage in the development of engineering designs.
We believe that the aforementioned contract will help Tetra Tech strengthen its existing business with the federal agency.
Order wins, especially from the U.S. federal government agencies or related institutions, are likely to benefit the company in the quarters ahead. At the end of the first quarter of fiscal 2021 (ended Dec 27, 2020), the company had a solid backlog of $3,188.1 million.
Of several contracts, Tetra Tech secured a $49-million environmental services contract from USACE in April 2021. In the same month, the company received a $12-million contract, related to energy sustainability activities, from the U.S. Agency for International Development (“USAID”).
For fiscal 2021 (ending September 2021), Tetra Tech anticipates net revenues from the U.S. federal clients to gain from enhanced analytics used in the water and environmental programs. It predicts net revenues of $2.40-$2.55 billion for the year and adjusted earnings of $3.45-$3.60 per share.
Zacks Rank, Price Performance and Earnings Estimates
Tetra Tech, with a $7.7-billion market capitalization, currently carries a Zacks Rank #2 (Buy). The company is poised to benefit from a healthy backlog level, sound business from federal clients and a diversified business structure.
In the past three months, Tetra Tech’s share price has increased 2% compared with the industry’s growth of 3.9%.
In the past 60 days, the company’s earnings estimates for the second quarter of fiscal 2021 (ended March 2020, results are awaited) have been unchanged at 75 cents per share. Also, during the same timeframe, the consensus estimate for fiscal 2021 (ending September 2021) at $3.59 reflected no change, while that for fiscal 2022 (ending September 2022) increased 0.3% to $3.87.
Tetra Tech, Inc. Price and Consensus
Tetra Tech, Inc. price-consensus-chart | Tetra Tech, Inc. Quote
Other Stocks to Consider
Some other top-ranked stocks in the Zacks Industrial Products sector are EnPro Industries, Inc. (NPO - Free Report) , Energy Recovery, Inc. (ERII - Free Report) and Sharps Compliance Corp. . While EnPro Industries currently sports a Zacks Rank #1 (Strong Buy), both Energy Recovery and Sharps Compliance carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, earnings estimates for EnPro Industries and Energy Recovery have been unchanged for the current year, while that for Sharps Compliance has improved. Further, the earnings surprise for the last reported quarter was 143.14% for EnPro Industries, 20% for Energy Recovery and 16.67% for Sharps Compliance.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>