Equities research analysts expect Tutor Perini Corp (NYSE:TPC) to post $1.21 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Tutor Perini’s earnings. The highest sales estimate is $1.25 billion and the lowest is $1.18 billion. Tutor Perini reported sales of $1.25 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.2%. The company is expected to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that Tutor Perini will report full-year sales of $5.11 billion for the current financial year, with estimates ranging from $4.92 billion to $5.24 billion. For the next year, analysts expect that the firm will report sales of $5.71 billion per share, with estimates ranging from $5.47 billion to $5.89 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Tutor Perini.
Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, May 9th. The construction company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.22). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.12 billion. Tutor Perini had a return on equity of 4.95% and a net margin of 2.62%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share.
Several analysts recently commented on the stock. DA Davidson restated a “buy” rating on shares of Tutor Perini in a report on Wednesday, February 28th. MKM Partners set a $27.00 price target on shares of Tutor Perini and gave the stock a “buy” rating in a report on Wednesday, February 28th. Zacks Investment Research cut shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 6th. Alembic Global Advisors reaffirmed a “buy” rating on shares of Tutor Perini in a research report on Monday, March 5th. Finally, KeyCorp raised shares of Tutor Perini from a “sector weight” rating to an “overweight” rating and set a $28.00 price objective on the stock in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.25.
In related news, CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $19.83, for a total transaction of $991,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TPC. Bank of Montreal Can raised its position in Tutor Perini by 328.5% during the fourth quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock valued at $191,000 after acquiring an additional 5,788 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Tutor Perini by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 384,747 shares of the construction company’s stock valued at $9,754,000 after purchasing an additional 14,205 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Tutor Perini by 7.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 121,326 shares of the construction company’s stock valued at $3,076,000 after purchasing an additional 8,687 shares during the period. Aperio Group LLC raised its position in shares of Tutor Perini by 21.3% in the fourth quarter. Aperio Group LLC now owns 12,019 shares of the construction company’s stock valued at $305,000 after purchasing an additional 2,108 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Tutor Perini in the fourth quarter valued at approximately $101,000. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TPC stock traded down $0.35 during trading on Friday, hitting $18.90. 742,145 shares of the company were exchanged, compared to its average volume of 335,702. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $941.05 million, a P/E ratio of 13.13, a P/E/G ratio of 0.83 and a beta of 2.03. Tutor Perini has a twelve month low of $18.65 and a twelve month high of $29.90.
Tutor Perini Company Profile
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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