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Tetra Technologies (TTI) Surges 5.0%: Is This an Indication of Further Gains?
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Tetra Technologies (TTI - Free Report) shares ended the last trading session 5% higher at $6.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% gain over the past four weeks.
Tetra Technologies’ shares rallied on the last trading day. The bullishness could be attributed to the rising oil and gas prices which is encouraging customers to increase exploration activities. This has increased demand for the company’s oilfield services. Also, the company’s ability to generate strong free cash flows going forward has driven the stock.
This oil and gas services company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +300%. Revenues are expected to be $164.1 million, up 21.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tetra Technologies, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TTI going forward to see if this recent jump can turn into more strength down the road.
Tetra Technologies belongs to the Zacks Oil and Gas - Field Services industry. Another stock from the same industry, FMC Technologies (FTI - Free Report) , closed the last trading session 1.6% lower at $20.94. Over the past month, FTI has returned 12.1%.
For FMC Technologies, the consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $0.18. This represents a change of +500% from what the company reported a year ago. FMC Technologies currently has a Zacks Rank of #3 (Hold).
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Tetra Technologies (TTI) Surges 5.0%: Is This an Indication of Further Gains?
Tetra Technologies (TTI - Free Report) shares ended the last trading session 5% higher at $6.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% gain over the past four weeks.
Tetra Technologies’ shares rallied on the last trading day. The bullishness could be attributed to the rising oil and gas prices which is encouraging customers to increase exploration activities. This has increased demand for the company’s oilfield services. Also, the company’s ability to generate strong free cash flows going forward has driven the stock.
This oil and gas services company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +300%. Revenues are expected to be $164.1 million, up 21.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tetra Technologies, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tetra Technologies belongs to the Zacks Oil and Gas - Field Services industry. Another stock from the same industry, FMC Technologies (FTI - Free Report) , closed the last trading session 1.6% lower at $20.94. Over the past month, FTI has returned 12.1%.
For FMC Technologies, the consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $0.18. This represents a change of +500% from what the company reported a year ago. FMC Technologies currently has a Zacks Rank of #3 (Hold).