Tutor Perini Corporation (NYSE:TPC) – B. Riley cut their FY2017 earnings per share estimates for shares of Tutor Perini in a report issued on Tuesday, Zacks Investment Research reports. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings per share of $1.87 for the year, down from their previous forecast of $2.25. B. Riley has a “Buy” rating and a $35.00 price objective on the stock. B. Riley also issued estimates for Tutor Perini’s Q4 2017 earnings at $0.54 EPS and FY2018 earnings at $2.50 EPS.
Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.22). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. Tutor Perini’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS.
TPC has been the subject of a number of other reports. ValuEngine upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday. Canaccord Genuity reduced their price target on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, November 10th. Seaport Global Securities downgraded shares of Tutor Perini from a “buy” rating to a “neutral” rating and reduced their price target for the company from $40.00 to $31.00 in a research report on Wednesday, October 11th. reduced their price target on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Finally, KeyCorp reiterated a “hold” rating on shares of Tutor Perini in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $33.63.
Shares of Tutor Perini (NYSE TPC) traded up $0.90 during trading hours on Friday, reaching $26.00. 568,489 shares of the company were exchanged, compared to its average volume of 356,189. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $1,290.00, a P/E ratio of 13.01, a P/E/G ratio of 1.37 and a beta of 2.36. Tutor Perini has a 1 year low of $22.60 and a 1 year high of $33.00.
Several institutional investors have recently modified their holdings of TPC. UBS Asset Management Americas Inc. raised its position in shares of Tutor Perini by 127.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 19,333 shares of the construction company’s stock worth $615,000 after purchasing an additional 10,834 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in Tutor Perini in the 1st quarter worth approximately $310,000. Teachers Advisors LLC grew its stake in Tutor Perini by 2.8% in the 1st quarter. Teachers Advisors LLC now owns 66,764 shares of the construction company’s stock worth $2,123,000 after acquiring an additional 1,798 shares during the period. Vanguard Group Inc. grew its stake in Tutor Perini by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 3,236,399 shares of the construction company’s stock worth $102,918,000 after acquiring an additional 229,127 shares during the period. Finally, Geode Capital Management LLC grew its stake in Tutor Perini by 7.7% in the 1st quarter. Geode Capital Management LLC now owns 299,980 shares of the construction company’s stock worth $9,539,000 after acquiring an additional 21,542 shares during the period. Hedge funds and other institutional investors own 81.78% of the company’s stock.
In related news, CEO Ronald N. Tutor sold 75,000 shares of Tutor Perini stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total transaction of $1,956,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total value of $652,750.00. Following the transaction, the insider now owns 5,923,120 shares of the company’s stock, valued at $154,652,663.20. The disclosure for this sale can be found here. Insiders have sold a total of 175,000 shares of company stock valued at $4,566,711 over the last 90 days. Insiders own 24.50% of the company’s stock.
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Tutor Perini Company Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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