Analysts predict that Tutor Perini Corp (NYSE:TPC) will report earnings of $0.68 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Tutor Perini’s earnings. The lowest EPS estimate is $0.67 and the highest is $0.68. Tutor Perini posted earnings per share of $0.47 in the same quarter last year, which suggests a positive year-over-year growth rate of 44.7%. The business is expected to issue its next earnings results after the market closes on Wednesday, November 7th.
On average, analysts expect that Tutor Perini will report full-year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.80 to $1.93. For the next financial year, analysts forecast that the business will report earnings of $2.87 per share, with EPS estimates ranging from $2.51 to $3.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Tutor Perini.
Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Tuesday, August 7th. The construction company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a return on equity of 4.55% and a net margin of 2.58%.
A number of analysts have weighed in on TPC shares. Zacks Investment Research lowered Tutor Perini from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. ValuEngine upgraded Tutor Perini from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. MKM Partners set a $28.00 target price on Tutor Perini and gave the stock a “buy” rating in a research note on Friday, September 28th. Finally, B. Riley reduced their target price on Tutor Perini from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Tutor Perini presently has a consensus rating of “Buy” and a consensus target price of $29.57.
In other news, CEO Ronald N. Tutor sold 32,574 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.10, for a total transaction of $654,737.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 17,574 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $20.08, for a total value of $352,885.92. Following the transaction, the insider now owns 5,626,601 shares in the company, valued at approximately $112,982,148.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,574 shares of company stock worth $2,367,300. Insiders own 24.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in TPC. Xact Kapitalforvaltning AB bought a new stake in Tutor Perini during the first quarter valued at about $210,000. Nomura Holdings Inc. bought a new stake in Tutor Perini during the second quarter valued at about $298,000. Foundry Partners LLC boosted its position in Tutor Perini by 34.1% during the third quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock valued at $307,000 after purchasing an additional 4,155 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Tutor Perini by 25.2% during the second quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock valued at $346,000 after purchasing an additional 3,781 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in Tutor Perini during the second quarter valued at about $359,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.
TPC traded up $0.38 during trading on Wednesday, reaching $17.32. The company had a trading volume of 20,329 shares, compared to its average volume of 458,397. The company has a market cap of $847.28 million, a PE ratio of 12.22, a P/E/G ratio of 0.79 and a beta of 2.08. Tutor Perini has a 52 week low of $15.06 and a 52 week high of $28.30. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.46.
About Tutor Perini
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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